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Norway divests from Malaysian logging company after rainforest destruction
(08/24/2010) The Norwegian Government's pension fund sold all its 16 million shares of Samling Global, a Malaysian timber company, after concluding the firm had committed 'serious transgessions' in logging outside of concession areas and destroying protected rainforests, reports the Bruno Manser Fund. The sale, worth a total of $1.2 million, represents about 0.3 percent of the company's outstanding shares based on today's closing market price in Hong Kong.


Norway emerges as champion of rainforest conservation

(03/19/2009) While citizens in western countries have long paid lip service to saving rainforests, Norway has quietly emerged as the largest and most important international force in tropical forest conservation. The small Scandinavian country has committed 3 billion krone ($440 million) a year to the effort, a figure vastly greater than the $100M pledged — but never fully contributed — by the United States under the Tropical Forest Conservation Act (TFCA). Norway now hopes it can help push to include forest conservation in the successor to the Kyoto Protocol by providing funding and fostering cooperation among international actors like the UN and World Bank, as well as developing countries, to fund the creation of an international architecture which makes it possible to incorporate deforestation and degradation into a post-2012 climate regime.

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