Bolloré Companies Cut by Norway Fund on Human Rights

Norway’s sovereign wealth fund, the world’s largest, has excluded companies tied to billionaire Vincent Bolloré from its investment portfolio, citing “human rights violations,” after a review and following reports of abuses at rubber plantations he co-owns in Africa.

Bolloré and his family are the largest shareholders in Bolloré SE and its top holding, Compagnie de l’Odet SE, both of which were added to the fund’s exclusion list on Feb. 26. They co-own Socfin Group, an archipelago of rubber and palm oil plantations scattered across 10 countries in Africa and Southeast Asia. The other owner is Belgian businessman Hubert Fabri.