Last Sunday, Norway's sovereign wealth fund, the largest in the world, announced the sale of all of its bond investments in the Mexican public oil company Pemex. The fund invokes an unacceptable risk of corruption within the company

The fund's Ethics Board said in a statement that “its investigations revealed that Pemex may be linked to multiple allegations or suspicions of corruption in Mexico over the period 2004-2023.” According to the same document, “the Council attaches particular importance to the fact that a significant number of company employees, including a former executive officer, are suspected of having received bribes on several occasions and on separate occasions

The Norwegian fund operates under guidelines set by the Norwegian Parliament and is considered a leader in environmentally, socially, and governance responsible investing. It has 1.8 trillion dollars in assets and owns 1.5% of the shares listed in 9,000 companies around the world