The Executive Board of Norges Bank, the central bank of Norway, has decided to exclude Bharat Heavy Electricals Ltd from the Government Pension Fund Global as the Indian company is building a coal-fired power plant near the Sundarbans.
The central bank of Norway came up with the decision based on an assessment of the risk of severe environmental damage. UK-based Mail Online recently published a report saying the giant coal-fired power plant could drastically worsen air pollution for millions and cause early deaths of 6,000 people over its lifetime.
The Bangladesh Government has taken up an initiative to set up the 1320 MW power plant in association with India at Rampal, some 14 kilometers away from the largest mangrove forest of the world.
