The blacklisted companies must not be bought by managers ... · 190 Walchandnagar Industries Ltd....

1

BLACKLISTED COMPANIES as of May 2019

Lærernes Pension and its fund vehicle, Kapitalforeningen Lærernes Pension Invest, invest according to an ethical investment policy (see below). To ensure efficient and uniform im-plementation of the policy, Lærernes Pension cooperates with Ethix SRI Advisors. Ethix provides semiannually Lærernes Pension with a blacklist of companies deemed to violate

the ethical investment policy.

The blacklisted companies must not be bought by managers on behalf of Lærernes Pension and managers should divest these companies if already held on behalf of Lærernes Pension

Global norm violations

ISIN

Finance or Holding

company

1 AES Andres BV

US00809YAB48 x

2 Alstom SA

FR0010220475

3 Altice Europe NV

NL0011333752

4 Altice Financing SA

US02154CAE30 x

5 Altice Finco SA

XS1577952440 x

6 Altice Luxembourg SA

XS1061642317 x

7 AviChina Industry & Technology Co. Ltd.

CNE1000001Y8

8 B Communications Ltd.

IL0011076630

9 Bank Hapoalim BM

IL0006625771

10 Bank Leumi Le-Israel Ltd.

IL0006046119

11 Bayer AG

DE000BAY0017

12 Bayer Capital Corp.

XS0249955005 x

13 Bayer Capital Corp. BV

DE000A189FZ7 x

14 Bayer Corp.

US07274AAA97 x

15 Bayer CropScience Ltd. (India)

INE462A01022 x

16 Bayer Holding Ltd.

XS0931945355 x

17 Bayer Nordic SE

XS1051000781 x

18 Bayer US Finance II LLC

US07274NAT00 x

19 Bayer US Finance LLC

US07274EAD58 x

20 Bezeq The Israeli Telecommunication Corp. Ltd.

IL0002300114

21 Bharat Heavy Electricals Ltd.

INE257A01026

22 BHP Billiton Finance (USA) Ltd.

US055451AW83 x

23 BHP Billiton Finance BV

XS0155924276 x

24 BHP Billiton Finance Ltd.

XS1309436910 x

25 BHP Finance (USA) Ltd.

US055450AH34 x

26 BHP Group Ltd.

AU000000BHP4

27 BHP Group Plc

GB00BH0P3Z91 x

28 Cellcom Israel Ltd.

IL0011015349

29 CEMIG Geracao e Transmissao SA

US12517MAA09 x

30 Centrais Eletricas Brasileiras SA

BRELETACNPB7

15th of May 2019

2

31 Cia de Saneamento do Parana

BRSAPRACNPR6

32 Cintas Corp.

US1729081059

33 Cintas Corp. No. 2

US17252MAG50 x

34 Commonwealth Bank of Australia

AU000000CBA7

35 Companhia Energetica de Minas Gerais SA

BRCMIGACNPR3

36 Deutsche Telekom AG

DE0005557508

37 Deutsche Telekom International Finance BV

XS1892151348 x

38 Enbridge Energy Management LLC

US29250X1037

39 Enbridge Energy Partners LP

US29250RAX44 x

40 Enbridge, Inc.

CA29250N1050

41 Energy Transfer LP

US29273V1008

42 Energy Transfer LP (Texas)

US29278NAA19 x

43 Energy Transfer Operating LP

US29278N4007

44 Export-Import Bank of India

INE514E08FO9 x

45 General Dynamics Corp.

US3695501086

46 Harel Insurance Investments & Financial Services Ltd.

IL0005850180

47 Iberdrola Finance Ireland DAC

XS1058819670 x

48 Iberdrola Finanzas SA

XS0246665573 x

49 Iberdrola International BV

XS1321004118 x

50 Iberdrola SA

ES0144580Y14

51 Incitec Pivot Finance LLC

XS1657899628 x

52 Incitec Pivot Ltd.

AU000000IPL1

53 Israel Discount Bank Ltd.

IL0006912120

54 JBS Finance II Ltd.

US46611CAA53 x

55 JBS Investments GmbH

US46611DAB10 x

56 JBS SA

BRJBSSACNOR8

57 Jiangxi Hongdu Aviation Industry Co., Ltd.

CNE0000015N3

58 LUKOIL International Finance BV

US549876AL44 x

59 Marathon Petroleum Corp.

US56585A1025

60 Mizrahi Tefahot Bank Ltd.

IL0006954379

61 MPLX LP

US55336V1008

62 Municipal Bank Ltd.

IL0007110104

63 NTPC Ltd.

INE733E01010

64 OCP SA

MA0000021859

65 Oil Co. LUKOIL PJSC

RU0009024277

66 Partner Communications Co. Ltd.

IL0010834849

67 Petroleos de Venezuela SA

XS0294367205

68 Petroliam Nasional Bhd.

US716708AF90 x

69 Petronas Capital Ltd.

US716743AH20 x

70 Phillips 66

US7185461040

71 Phillips 66 Partners LP

US7185492078 x

3

72 POSCO

KR7005490008

73 POSCO INTERNATIONAL Corp.

KR7047050000

74 Raytheon Co.

US7551115071

75 Repsol International Finance BV

XS1207058733 x

76 Repsol SA

ES0173516115

77 Rosneft Finance SA

US87261PAD78 x

78 Rosneft International Finance Ltd.

US77819RAA77 x

79 ROSNEFT International Ltd.

XS0861980372 x

80 Rosneft Oil Co.

RU000A0J2Q06

81 Royal Dutch Shell plc

GB00B03MM408

82 Ryanair Holdings

IE00B1GKF381

83 Ryanair Dac

XS1565699763 x

84 Samarco Mineracao SA

US79586KAD37

85 Serco Group plc

GB0007973794

86 Shell Finance (Netherlands) BV

CH0002679436 x

87 Shell International Finance BV

US822582BY77 x

88 SK Innovation Co., Ltd.

KR7096770003

89 Sumitomo Chemical Co., Ltd.

JP3401400001

90 Sunoco Logistics Partners Operations LP (Energy Transfer Operating LP)

US86765BAV18 x

91 Syngenta AG

CHFDS0NLYF51

92 Syngenta Finance Ltd.

CH0038448608 x

93 Syngenta Finance NV

USN84413CG11 x

94 Syngenta Ltd.

CH0204985789 x

95 Syngenta Luxembourg Finance No. 2 SA

LUL8992#AC02 x

96 Syngenta Luxembourg Finance SA

XS0132121715 x

97 T-Mobile US, Inc.

US8725901040

98 T-Mobile USA, Inc.

US87264AAV70 x

99 The AES Corp.

US00130H1059

100 The First International Bank of Israel Ltd.

IL0005930388

101 Vale Overseas Ltd.

US91911TAK97 x

102 Vale SA

BRVALEACNOR0

103 Walmart, Inc.

US9311421039

104 XPO Logistics, Inc.

US9837931008

# companies 104

# unique companies 56

Removed

Agrium, Inc.

CAFDS0M82Q68

Cosan Finance Ltd. (RAIZEN ENERGIA/RAIZEN FUELS FINANCE)

USG24419AA47

Cosan Ltd.

BMG253431073

4

Cosan Luxembourg SA

LUFDS0NGWI28

Cosan Overseas Ltd.

XS0556373347

Cosan SA

BRCSANACNOR6

Dexia Israel Bank Ltd.

IL0007110104

Innophos Holdings, Inc.

US45774N1081

Nutrien Ltd.

CA67077M1086

Raizen Fuels Finance SA (Cosan Finance)

USL7909CAA55

Spectra Energy Capital LLC

US84755TAC18

Spectra Energy Corp.

US8475601097

Spectra Energy Partners LP

US84756N1090

Controversial weapons

105 AECOM US00766T1007

106 Aerojet Rocketdyne Holdings, Inc. US0078001056

107 Airbus Finance BV XS1410582313 x

108 Airbus SE NL0000235190

109 Anhui GreatWall Military Industry Co., Ltd. New CNE1000036L1

110 Aryt Industries Ltd. IL0005870147

111 Atomic Energy Power Corp. RU000A0ZZE46

112 Babcock International Group Plc GB0009697037

113 BAE Systems (Finance) Ltd. US11041RAL24 x

114 BAE Systems plc GB0002634946

115 Bharat Dynamics Ltd. INE171Z01018

116 Boeing Capital Corp. US097014AL88

117 Booz Allen Hamilton Holding Corp. US0995021062

118 Booz Allen Hamilton, Inc. US099500AA88 x

119 Brookfield Asset Management, Inc. CA1125851040

120 Brookfield Business Partners LP BMG162341090 x

121 Brookfield Finance LLC US11271RAA77 x

122 Brookfield Finance, Inc. US11271LAB80 x

123 BWX Technologies, Inc. US05605H1005

124 CACI International, Inc. US1271903049

125 China Aerospace Science & Technology Corp. CND000000LJ6

126 China North Industries Corp. CND10001TRS3

127 China North Industries Group Corp. Ltd. CND10000KSK9 x

128 China Poly Group Co., Ltd. CND100005VK1

129 China Shipbuilding Industry Co., Ltd. CNE100000J75

130 Cohort Plc GB00B0YD2B94

131 Constructions Navales Industrielles de la Mediterranee FR0000053399

132 Elbit Systems Ltd. IL0010811243

133 Engility Holdings, Inc. US29286C1071

5

134 Engility LLC US87650QAE26 x

135 Finmeccanica Finance SA (Leonardo SpA) XS0458887030 x

136 Fluor Corp. US3434121022

137 Fortive Corp. US34959J1088

138 General Dynamics Corp. US3695501086

139 Goodrich Corp. (United Technologies Corp.) US80410VAA52 x

140 GP Strategies Corp. US36225V1044

141 Handy & Harman Ltd. (Steel Partners Holdings LP) USFDS08NWC76 x

142 Hanwha Corp. KR7000880005

143 Harris Corp. US4138751056

144 Hitachi Zosen Corp. New JP3789000001

145 Honeywell International, Inc. US4385161066

146 Huntington Ingalls Industries, Inc. US4464131063

147 Jacobs Engineering Group, Inc. US4698141078

148 KBR, Inc. US48242W1062

149 L3 Technologies, Inc. US5024131071

150 Larsen & Toubro Ltd. INE018A01030

151 Leidos Holdings, Inc. US5253271028

152 Leidos, Inc. US808626AG02 x

153 Leonardo SpA IT0003856405

154 Leonardo US Holding, Inc. US583491AC98 x

155 LIG Corp. New KR7079550000

156 LIG Nex1 Co., Ltd. KR7079550000 x

157 Lockheed Martin Corp. US5398301094

158 Lumibird SA New FR0000038242

159 Moog, Inc. US6153942023

160 Motovilicha Plants PJSC RUFDS0R61038

161 Northrop Grumman Corp. US6668071029

162 Northrop Grumman Innovation Systems, Inc. USFDS0F9ZK93 x

163 Northrop Grumman Systems Corp. US666807AW21 x

164 Poongsan Corp. KR7103140000

165 Poongsan Holdings Corp. KR7005810007 x

166 Premier Explosives Ltd. INE863B01011

167 Raytheon Co. US7551115071

168 Rolls-Royce Group Plc CA7757831036 x

169 Rolls-Royce Holdings plc GB00B63H8491 x

170 Rolls-Royce Plc XS1819574929

171 S&T DYNAMICS Co., Ltd. KR7003570009

172 S&T Holdings Co., Ltd. KR7036530004 x

173 Safran SA FR0000073272

174 Science Applications International Corp. US8086251076

6

175 Serco Group plc GB0007973794

176 SGL Carbon SE DE0007235301

177 Steel Partners Holdings LP US85814R1077

178 Tata Power Co., Ltd. INE245A01021

179 Tennessee Valley Authority US8805913006

180 Textron Financial Corp. USU88321AC55

181 Textron, Inc. US8832031012 x

182 Thales SA FR0000121329

183 The Boeing Co. US0970231058

184 The Charles Stark Draper Laboratory, Inc. US15987TAR23

185 The Johns Hopkins University US478115AB49

186 Ultra Electronics Holdings Plc GB0009123323

187 United Industrial Corp. US910671AB21

188 United Technologies Corp. US9130171096

189 URS Corp. (AECOM) US903243AC73 x

190 Walchandnagar Industries Ltd. INE711A01022

# companies 86


Removed

Also on the list of Norm Violations

General Dynamics Corp. US3695501086

Raytheon Co. US7551115071

Serco Group plc GB0007973794

Arms-related sales

191 AAR Corp. US0003611052

192 Ability, Inc. New KYG8789K1242

193 Abu Dhabi Ship Building Co. AEA000901016

194 Acorn Energy, Inc. New US0048481073

195 Addsino Co., Ltd. New CNE000000DM5

196 ADS Tactical, Inc. US00101DAD12

197 AECC Aviation Power Co. Ltd. New CNE000000JW1

198 AECOM US00766T1007

199 Aerojet Rocketdyne Holdings, Inc. US0078001056

200 Aerospace Industrial Development Corp. TW0002634003

201 Aerostar SA New ROAEROACNOR5

202 AeroVironment, Inc. New US0080731088

203 Air Industries Group US00912N2053

7

204 Airbus Finance BV XS1410582313

205 Airbus SE NL0000235190

206 Alaris Holdings Ltd. New ZAE000201554

207 Alion Science & Technology Corp. US0162751095

208 Allied Motion Technologies, Inc. New US0193301092

209 Allison Transmission Holdings, Inc. New US01973R1014

210 American Outdoor Brands Corp. US02874P1030

211 Amphenol Corp. New US0320951017

212 Amphenol Technologies Holding GmbH XS1843459436 x

213 Anaren, Inc. US0327441046

214 API Technologies Corp. USFDS0HI4C97

215 Apollo Micro Systems Ltd. New INE713T01010

216 Aryt Industries Ltd. IL0005870147

217 Aselsan Elektronik Sanayi ve Ticaret AS TRAASELS91H2

218 Ashot Ashkelon Industries Ltd. IL0003120172

219 Astronics Corp. New US0464331083

220 Austal Ltd. AU000000ASB3

221 Avcorp Industries, Inc. New CA05354K3047

222 AVIC Aircraft Co. Ltd. CNE000000RF9

223 AVIC Shenyang Aircraft Co. Ltd. CNE000000MH6

224 AviChina Industry & Technology Co. Ltd. CNE1000001Y8

225 Babcock International Group Plc GB0009697037

226 BAE Systems (Finance) Ltd.

US11041RAL24 x

227 BAE Systems plc GB0002634946

228 BEML Ltd. New INE258A01016

229 Bet Shemesh Engines Holdings (1997) Ltd. New IL0010815616

230 Bharat Dynamics Ltd. New INE171Z01018

231 Bharat Electronics Ltd. INE263A01024

232 Bodycote plc New GB00B3FLWH99

233 Boeing Capital Corp. US097014AL88 x

234 Booz Allen Hamilton Holding Corp. US0995021062

235 Booz Allen Hamilton, Inc. US099500AA88 x

236 Boustead Heavy Industries Corp. Bhd. MYL8133OO000 x

237 Boustead Holdings Bhd. MYL2771OO003

238 Breeze-Eastern LLC US1067641035

239 BWX Technologies, Inc. US05605H1005

240 Cabela's, Inc. USFDS0J09728 x

241 CACI International, Inc. US1271903049

242 CAE, Inc. CA1247651088

243 Ceradyne, Inc. US1567101050

244 Chemring Group plc GB00B45C9X44

8

245 China Aerospace Science & Technology Corp. CND000000LJ6

246 China Aerospace Times Electronics CO., LTD. New CNE000000J93

247 China Avionics Systems Co., Ltd. New CNE0000018C0

248 China North Industries Group Corp. Ltd. CND10000KSK9 x

249 China Poly Group Co., Ltd. CND100005VK1

250 China Shipbuilding Industry Co., Ltd. New CNE100000J75

251 China South Industries Group Co. Ltd. CND10000K5W7

252 CIRCOR International, Inc. New US17273K1097

253 Cobham plc GB00B07KD360

254 Cochin Shipyard Ltd. New INE704P01017

255 Cohort Plc GB00B0YD2B94

256 Colt Defense LLC US19686M1027

257 Comrod Communication AS NOFDS0647U95

258 Comtech Telecommunications Corp. New US2058262096

259 Concern PVO Almaz-Antey OJSC RU000A0JRAU7

260 Constellis Holdings LLC US21038KAG22

261 Constructions Navales Industrielles de la Mediterranee New FR0000053399

262 CPI Aerostructures, Inc. US1259193084

263 Crane Co. New US2243991054

264 Cray, Inc. New US2252233042

265 CSBC Corp. Taiwan New TW0002208006

266 Cubic Corp. US2296691064

267 Curtiss-Wright Corp. US2315611010

268 Daicel Corp. New JP3485800001

269 Dassault Aviation SA FR0000121725

270 DRB-Hicom Bhd. New MYL1619OO005

271 Ducommun, Inc. US2641471097

272 DynCorp International, Inc. US26817CAC55

273 ECA SA FR0010099515

274 Egide SA FR0000072373

275 Elbit Systems Ltd. IL0010811243

276 Electro Optic Systems Holdings Ltd. AU000000EOS8

277 eMagin Corp. US29076N2062

278 Embraer Netherlands Finance BV US29082HAB87 x

279 Embraer Overseas Ltd. US29081YAE68 x

280 Embraer SA New BREMBRACNOR4

281 Enea AB New SE0009697220

282 Engility Holdings, Inc. US29286C1071

283 Engility LLC US87650QAE26 x

284 ESCO Technologies, Inc. New US2963151046

285 Espey Manufacturing & Electronics Corp. US2966501049

9

286 Esterline Technologies Corp. US297425AG50

287 Etion Ltd. New ZAE000257739

288 Eurotech SPA New IT0003895668

289 Exchange Income Corp. New CA3012831077

290 Fincantieri SpA New IT0001415246

291 Finmeccanica Finance SA (Leonardo SpA) XS0458887030 x

292 Firstec Co., Ltd. New KR7010820009

293 FLIR Systems, Inc. US3024451011

294 Fluor Corp. US3434121022

295 General Dynamics Corp. US3695501086

296 GKN Holdings Ltd. New BE0004312444

297 GKN plc XS0103214762 x

298 Global Aviation Holdings, Inc. US37953C1100

299 Global Brass & Copper Holdings, Inc. New US37953G1031

300 Global Brass & Copper, Inc. US37952TAA43 x

301 GomSpace Group AB New SE0011973650

302 Goodrich Corp. (United Technologies Corp.) US80410VAA52 x

303 Griffon Corp. New US3984331021

304 H&K AG New DE000A11Q133

305 Hanjin Heavy Industries & Construction Co., Ltd. New KR7097230007

306 Hanwha Aerospace Co., Ltd. KR7012450003

307 Hanwha Corp. KR6000881922 x

308 Harris Corp. US4138751056

309 Haynes International, Inc. New US4208772016

310 Heckler & Koch GmbH DEFDS0TPST74

311 HEICO Corp. New US4228061093

312 Heroux-Devtek, Inc. New CA42774L1094

313 High Energy Batteries Ltd. INE783E01015

314 Honeywell International, Inc. US4385161066

315 Huntington Ingalls Industries, Inc. US4464131063

316 HYUNDAI ROTEM Co. New KR7064350002

317 IEC Electronics Corp. New US44949L1052

318 II-VI, Inc. New US9021041085

319 Imco Industries Ltd. IL0002820129

320 Indra Sistemas SA New ES0118594417

321 Inmarsat Finance Plc US45763PAF36 x

322 Inmarsat Plc New GB00B09LSH68

323 Inner Mongolia First Machinery Group Co., Ltd. New CNE000001HP7

324 Intelsat Connect Finance SA US45827AAD54 x

325 Intelsat SA New LU0914713705

326 International Rectifier Corp. New US4602541058

10

327 Intevac, Inc. New US4611481080

328 Intracom Holdings SA New GRS087003000

329 Iridium Communications, Inc. New US46269C1027

330 Irkut Corp. RU0006752979

331 Jacobs Engineering Group, Inc. US4698141078

332 James Fisher & Sons Plc New GB0003395000

333 Jenoptik AG New DE000A2NB601

334 Jiangsu Yinhe Electronics Co., Ltd. New CNE100000XD1

335 Jiangxi Hongdu Aviation Industry Co., Ltd. CNE0000015N3

336 Jihua Group Corp. Ltd. New CNE100000SK6

337 Kaman Corp. New US4835481031

338 Kawasaki Heavy Industries, Ltd. New JP3224200000

339 Kaydon Corp. New US4865871085

340 KBR, Inc. US48242W1062

341 Kirov Mayak Plant OAO RU000A0B97K9

342 Kitron ASA New NO0003079709

343 Kongsberg Gruppen ASA NO0003043309

344 Kopin Corp. New US5006001011

345 Korea Aerospace Industries Ltd. KR7047810007

346 Kratos Defense & Security Solutions, Inc. US50077B2079

347 Kurgan Machine Building Plant OJSC RU0009098982

348 KVH Industries, Inc. (Delaware) New US4827381017

349 L3 Technologies, Inc. US5024131071

350 Leidos Holdings, Inc. US5253271028

351 Leidos, Inc. US808626AG02 x

352 Leonardo SpA IT0003856405

353 Leonardo US Holding, Inc. US583491AC98 x

354 LIG Nex1 Co., Ltd. KR7079550000

355 LMI Aerospace, Inc. New US502079AA41

356 Lockheed Martin Corp. US5398301094

357 LRAD Corp. New US50213V1098

358 Machine Building Plant Arsenal OJSC RU000A0JNSN3

359 MACOM Technology Solutions Holdings, Inc. New US55405Y1001

360 Magellan Aerospace Corp. New CA5589122004

361 ManTech International Corp. US5645631046

362 Materion Corp. New US5766901012

363 Meggitt Plc GB0005758098

364 Melrose Industries Plc New GB00BZ1G4322

365 MERCURY SYSTEMS, INC. US5893781089

366 METKA Industrial-Construction SA New GRS091103002

367 Microsemi Corp. New US59514UAX63

11

368 MICT, Inc. US55328R1095

369 Mikros Systems Corp. New US5986263078

370 Mitsubishi Heavy Industries, Ltd. New JP3900000005

371 Moog, Inc. US6153942023

372 Motor Sich JSC UA4000143135

373 Motovilicha Plants PJSC RUFDS0R61038

374 MS International plc GB0005957005

375 MTU Aero Engines AG New DE000A0D9PT0

376 National Presto Industries, Inc. US6372151042

377 NC Kazakhstan Engineering JSC New KZ1C00006956

378 NCI, Inc. New USFDS0XGQI86

379 Nizhegorodsky Machine Building Plant PSC RU0006765039

380 NN, Inc. New US6293371067

381 NOF Corp. New JP3753400005

382 North Navigation Control Technology Co., Ltd. CNE000001F88

383 Northrop Grumman Corp. US6668071029

384 Northrop Grumman Innovation Systems, Inc. USFDS0F9ZK93 x

385 Northrop Grumman Systems Corp. US666807AW21 x

386 OHB SE New DE0005936124

387 Optex Systems Holdings, Inc. US68384X2099

388 Orbit Technologies Ltd. New IL0002650179

389 Orbital Sciences Corp. (Northrop Grumman Corp.) US6855641063 x

390 Oshkosh Corp. New US6882392011

391 Otokar Otomotiv ve Savunma Sanayi AS New TRAOTKAR91H3

392 PAR Technology Corp. New US6988841036

393 Parker-Hannifin Corp. New US7010941042

394 Poongsan Corp. KR7103140000

395 Poongsan Holdings Corp. New KR7005810007

396 Premier Explosives Ltd. INE863B01011

397 Prevas AB New SE0000356008

398 QinetiQ Group plc GB00B0WMWD03

399 Quickstep Holdings Ltd. New AU000000QHL1

400 Rada Electronic Industries Ltd. IL0010826506

401 Raytheon Co. US7551115071

402 RBC Bearings, Inc. New US75524B1044

403 Reliance Naval & Engineering Ltd. INE542F01012

404 Reunert Ltd. New ZAE000057428

405 Rheinmetall AG DE0007030009

406 Rheinmetall Nordic AS NO0005396200

407 Rockwell Collins, Inc. US774341AL52

408 Rolls-Royce Group Plc CA7757831036 x

12

409 Rolls-Royce Holdings plc GB00B63H8491 x

410 Rolls-Royce Plc XS1819574929

411 Rolta Americas LLC US775788AA03 x

412 Rolta India Ltd. New INE293A01013

413 Rolta LLC US775793AA06 x

414 Rostvertol Plc RU0006935954

415 RSL Electronics Ltd. IL0002990161

416 RTI International Metals, Inc. New US74973WAB37

417 RUBICON TECHNOLOGY, INC. New US78112T2069

418 S&T DYNAMICS Co., Ltd. KR7003570009

419 Saab Ab SE0000112385

420 Safran SA FR0000073272

421 Sanmina Corp. New US8010561020

422 Science Applications International Corp. US8086251076

423 Senior plc New GB0007958233

424 Sequa Corp. New US8173208070

425 Serco Group plc GB0007973794

426 SIFCO Industries, Inc. New US8265461033

427 Sinfonia Technology Co., Ltd. New JP3375400003

428 Singapore Technologies Engineering Ltd. SG1F60858221

429 Sparton Corp. USFDS0XMG967

430 SRA International, Inc. US78464R1059 x

431 Sturm, Ruger & Co., Inc. US8641591081

432 STX Engine Co., Ltd. KR7077970002

433 Sypris Solutions, Inc. New US8716551069

434 TAT Technologies Ltd. New IL0010827264

435 Taurus Armas SA New BRFJTAACNPR2

436 Techpribor PJSC New RU000A0JQQ50

437 TeleCommunication Systems, Inc. US87929J1034 x

438 Teledyne Technologies, Inc. US8793601050

439 Textron Financial Corp. USU88321AC55 x

440 Textron, Inc. US8832031012

441 Thales SA FR0000121329

442 The Boeing Co. US0970231058

443 The Dewey Electronics Corp. US2520631027

444 The KEYW Holding Corp. New US4937231003

445 TransDigm Group, Inc. US8936411003

446 TransDigm, Inc. US8936471072 x

447 Triumph Group, Inc. New US8968181011

448 TTM Technologies, Inc. New US87305R1095

449 Tula Gun Factory JSC RU0007661203

13

450 Tulamashzavod OJSC RU0007661179

451 Tupolev OAO RU0002637182

452 Ultra Electronics Holdings Plc GB0009123323

453 United Aircraft Corp. PJSC RU000A0JPLZ7

454 United Technologies Corp. US9130171096

455 UQM Technologies, Inc. New US9032131065

456 URS Corp. US903243AC73 x

457 V. A. Degtyarev Plant OJSC RU0002614579

458 Vectrus, Inc. US92242T1016

459 Verney-Carron SA FR0006174496

460 ViaSat, Inc. New US92552V1008

461 Vicor Corp. New US9258151029

462 VirTra, Inc. New US92827K3014

463 Vista Outdoor, Inc. US9283771007

464 VSE Corp. US9182841000

465 Walchandnagar Industries Ltd. INE711A01022

466 Wesco Aircraft Holdings, Inc. US9508141036

467 Woodward, Inc. New US9807451037

468 XTEK Ltd. AU000000XTE7

469 Zen Technologies Ltd. INE251B01027

# companies 279


Removed

Ovzon AB

SE0010948711

Forjas Taurus SA

BRFJTAACNOR5


AviChina Industry & Technology Co. Ltd. CNE1000001Y8


Jiangxi Hongdu Aviation Industry Co., Ltd. CNE0000015N3



Also on the list of Controversial Weapons

AECOM US00766T1007

Aerojet Rocketdyne Holdings, Inc. US0078001056

Airbus Finance BV XS1410582313

Airbus SE NL0000235190

Aryt Industries Ltd. IL0005870147

14

Babcock International Group Plc GB0009697037

BAE Systems (Finance) Ltd.

US11041RAL24

BAE Systems plc GB0002634946

Bharat Dynamics Ltd. New INE171Z01018

Boeing Capital Corp. US097014AL88

Booz Allen Hamilton Holding Corp. US0995021062

Booz Allen Hamilton, Inc. US099500AA88

BWX Technologies, Inc. US05605H1005

CACI International, Inc. US1271903049

China Aerospace Science & Technology Corp. CND000000LJ6

China North Industries Group Corp. Ltd. CND10000KSK9

China Poly Group Co., Ltd. CND100005VK1

China Shipbuilding Industry Co., Ltd. New CNE100000J75

Cohort Plc GB00B0YD2B94

Constructions Navales Industrielles de la Mediterranee New FR0000053399

Elbit Systems Ltd. IL0010811243

Engility Holdings, Inc. US29286C1071

Engility LLC US87650QAE26

Finmeccanica Finance SA (Leonardo SpA) XS0458887030

Fluor Corp. US3434121022


Goodrich Corp. (United Technologies Corp.) US80410VAA52

Hanwha Corp. KR6000881922

Harris Corp. US4138751056

Honeywell International, Inc. US4385161066

Huntington Ingalls Industries, Inc. US4464131063

Jacobs Engineering Group, Inc. US4698141078

KBR, Inc. US48242W1062

L3 Technologies, Inc. US5024131071

Leidos Holdings, Inc. US5253271028

Leidos, Inc. US808626AG02

Leonardo SpA IT0003856405

Leonardo US Holding, Inc. US583491AC98

LIG Nex1 Co., Ltd. KR7079550000

Lockheed Martin Corp. US5398301094

Moog, Inc. US6153942023

Motovilicha Plants PJSC RUFDS0R61038

Northrop Grumman Corp. US6668071029

Northrop Grumman Innovation Systems, Inc. USFDS0F9ZK93

Northrop Grumman Systems Corp. US666807AW21

Poongsan Corp. KR7103140000

15

Poongsan Holdings Corp. New KR7005810007

Premier Explosives Ltd. INE863B01011


Rolls-Royce Group Plc CA7757831036

Rolls-Royce Holdings plc GB00B63H8491

Rolls-Royce Plc XS1819574929

S&T DYNAMICS Co., Ltd. KR7003570009

Safran SA FR0000073272

Science Applications International Corp. US8086251076


Textron Financial Corp. USU88321AC55

Textron, Inc. US8832031012

Thales SA FR0000121329

The Boeing Co. US0970231058

Ultra Electronics Holdings Plc GB0009123323

United Technologies Corp. US9130171096

URS Corp. US903243AC73

Walchandnagar Industries Ltd. INE711A01022

Tobacco

470 22nd Century Group, Inc. US90137F1030

471 Al-Eqbal Co. for Investment Plc JO4104811016

472 Altadis Emisiones Financieras SA XS0236951207 x

473 Altadis SAU FR0000861098

474 Altria Group, Inc. US02209S1033

475 American Heritage International, Inc. US02650U2015

476 Arcis Resources Corp. New US03959D2053

477 B.A.T. Capital Corp. US05526DAR61 x

478 BAT International Finance Plc XS1324911608 x

479 British American Tobacco XS1441635833

480 British American Tobacco Australia Ltd. AU000000BAM6 x

481 British American Tobacco Bangladesh Co. BD0259BATBC9 x

482 British American Tobacco Chile Operaciones SA CLP3712A1035 x

483 British American Tobacco Co. Ltd. GH0000000045 x

484 British American Tobacco Holdings (The Netherlands) BV XS1043097630 x

485 British American Tobacco Kenya Ltd. KE0000000075 x

486 British American Tobacco Malaysia Bhd. MYL4162OO003 x

487 British American Tobacco Peru Holdings Ltd. PEP545001005 x

488 British American Tobacco plc GB0002875804 x

489 British American Tobacco Uganda Ltd. UG0000000022 x

490 British American Tobacco Zimbabwe Ltd. ZW0009011710 x

16

491 Bulgartabac Holding AD BG11BUSOGT14

492 Ceylon Tobacco Co. PLC LK0042N00008

493 Coka Duvanska Industrija AD RSDICOE58755

494 CTO Public Co. Ltd. New CY0001350418

495 Dupnitsa-Tabak AD BG11DUDUBT16

496 Duvanska Industrija a.d. Bujanovac RSDIBBE29987

497 Duvanski Kombinat ad Podgorica MEDKPGRA0PG2

498 Eastern Co. (Egypt) EGS37091C013

499 Fabrika Duhana Sarajevo dd New BAFDSSR00002

500 Fabrika Duvana Banja Luka AD BA100FDBLRA9

501 Gallaher Group Plc (Japan Tobacco Inc.) GB0003833695 x

502 Godfrey Phillips India Ltd. INE260B01028

503 Golden Tobacco Ltd. INE973A01010

504 Gotse Delchev Tabac AD BG11GOGOAT17

505 Hoang Long Group VN000000HLG3

506 Hrvatski Duhani dd HRHRDHRA0003

507 Huabao International Holdings Ltd. BMG4639H1227

508 Icon Vapor, Inc. New US45107D1081

509 Imperial Brands Finance Plc XS1040508597 x

510 Imperial Brands Plc GB0004544929

511 ITC Ltd. INE154A01025

512 Japan Tobacco Inc. JP3726800000

513 Jerusalem Cigarette Co. Ltd. PS2003111643

514 Karelia Tobacco Co., Inc. GRS120131008

515 Khyber Tobacco Co. Ltd. PK0012401011

516 Kimree, Inc. US4944721038

517 KT&G Corp. KR7033780008

518 LT Group, Inc. PHY5342M1000

519 mCig, Inc. US55279L1017

520 Ngan Son JSC VN000000NST9

521 Nhale, Inc. New US65341J1097

522 Nikotiana BT Holding AD BG1100057980

523 NTC Industries Ltd. INE920C01017

524 Pakistan Tobacco Co. Ltd. PK0002701016 x

525 Pazardzhik BTM AD BG11PAPABT16

526 Philip Morris (Pakistan) Ltd. PK0018201019 x

527 Philip Morris CR a.s. CS0008418869 x

528 Philip Morris International, Inc. US7181721090

529 Philip Morris Operations ad RSDINNE11951 x

530 PT BAT Indonesia ID1000052806 x

531 PT Bentoel International Investama Tbk ID1000052509

17

532 PT Gudang Garam Tbk ID1000068604

533 PT Hanjaya Mandala Sampoerna Tbk ID1000074008

534 PT Wismilak Inti Makmur Tbk ID1000126006

535 Pyxus International, Inc. US74737V1061

536 Rapid Fire Marketing, Inc. New US75339L3050

537 Reinet Investments SCA LU0383812293

538 Reynolds American, Inc. US761713BB19 x

539 Rothmans Industries Pte Ltd. SG1H03001457 x

540 Scandinavian Tobacco Group A/S DK0060696300

541 Schweitzer-Mauduit International, Inc. US8085411069

542 Shanghai Industrial Holdings Ltd. HK0363006039

543 Shumen Tabac AD BG11SUSUVT18 x

544 Sila Holding AD BG1100027983

545 Sinnar Bidi Udyog Ltd. INE896E01015

546 SITAB CI0000000097

547 Slantse Stara Zagora Tabac AD BG11SLSTAT17

548 Smokefree Innotec, Inc. US8326731077

549 Souza Cruz SA BRCRUZACNOR0 x

550 Standard Diversified, Inc. New US85336L1098

551 Strumica Tabak AD MKSTTB101013

552 Swan Group of Cos., Inc. US8696681035

553 Swedish Match AB SE0000310336

554 Tanzania Cigarette Co. Ltd. TZ1996100032

555 TSL Ltd. ZW0009011579

556 Turning Point Brands, Inc. US90041L1052

557 Tutunski Kombinat AD (Imperial Brands plc) MKTKPR101017 x

558 Tvornica Duhana Zagreb HRTDZ0RA0002

559 Union Investment Corp. New JO3106911014

560 Union Tobacco & Cigarette Industries Co. JO4107411012

561 Universal Corp. US9134561094

562 UST Inc. (Altria Group, Inc.) US9029111062 x

563 Vapor Group, Inc. US9221011003

564 Vapor Hub International, Inc. US9221041042

565 Vector Group Ltd. US92240M1080

566 Veles Tabak AD MKVETA101016

567 VPR Brands LP US91831H1068

568 VST Industries Ltd. INE710A01016

569 Wee-Cig International Corp. US9484652089

570 West Indian Tobacco Co. Ltd. TTP985721039

# companies 101

18


Removed

POBIS TNC Co., Ltd.

KR7016670002

Mining

571 African Rainbow Minerals Ltd. New ZAE000054045

572 Agritrade Resources Ltd. BMG0130N1130

573 Alliance Holdings GP LP US01861G1004

574 Alliance Resource Operating Partners LP US01879NAA37 x

575 Alliance Resource Partners LP US01877R1086 x

576 Altius Minerals Corp. CA0209361009

577 Anglo American Capital Plc XS1962515372 x

578 Anglo American plc New GB00B1XZS820

579 Anglo Pacific Group plc New GB0006449366

580 Arch Coal, Inc. US0393804077

581 Banpu Public Co. Ltd. TH0148A10Z06

582 Bathurst Resources Ltd. New NZBRLE0001S4

583 Beijing Haohua Energy Resource Co., Ltd. CNE100000N12

584 BHP Billiton Finance (USA) Ltd. US055451AW83 x

585 BHP Billiton Finance BV XS0155924276 x

586 BHP Billiton Finance Ltd. XS1309436910 x

587 BHP Finance (USA) Ltd. US055450AH34 x

588 BHP Group Ltd. AU000000BHP4

589 BHP Group Plc GB00BH0P3Z91 x

590 Bumi Investment Pte Ltd. US120469AA99

591 CESC Ltd. INE486A01013

592 China Coal Energy Co., Ltd. CNE100000528

593 China Coal Xinji Energy Co., Ltd. CNE1000008D7

594 China Shenhua Energy Co., Ltd. CNE1000002R0

595 China Shenhua Overseas Capital Co. Ltd. XS1165128585 x

596 Cloud Peak Energy Resources LLC US18911XAA54 x

597 Cloud Peak Energy, Inc. US18911Q1022

598 Coal Energy SA LU0646112838

599 Coal India Ltd. INE522F01014

600 CONSOL Energy, Inc. US20854L1089

601 Contura Energy, Inc. New US21241B1008

602 Corsa Coal Corp. New CA22041E6091

603 DaTong Coal Industry Co., Ltd. CNE000001MZ6

604 DMCI Holdings, Inc. PHY2088F1004

605 Elion Clean Energy Co., Ltd. New CNE0000013S7

19

606 Exxaro Resources Ltd. ZAE000084992

607 Feishang Anthracite Resources Ltd. New VGG3375A1194

608 Foresight Energy LLC US345525AE90

609 Foresight Energy LP New US34552U1043

610 Gansu Jingyuan Coal Industry & Electricity Power Co., Ltd. CNE000000D40

611 GD Power Development Co., Ltd. New CNE000000PC0

612 Guanghui Energy Co., Ltd. New CNE0000012G4

613 Guizhou Panjiang Refined Coal Co., Ltd. New CNE0000017V2

614 Gujarat Mineral Development Corp. Ltd. INE131A01031

615 Hallador Energy Co. US40609P1057

616 Hargreaves Services Plc New GB00B0MTC970

617 Hidili Industry International Development Ltd. New KYG444031069

618 Hosken Consolidated Investments Ltd. New ZAE000003257

619 Huadian Power International Corp. Ltd. New CNE1000003D8

620 Huolinhe Opencut Coal Industry Corp. Ltd. of Inner Mongolia CNE100000098

621 Idemitsu Kosan Co., Ltd. New JP3142500002

622 Indika Energy Capital II Pte Ltd. US45569EAA55

623 Indika Energy Capital III Pte Ltd. US45569FAA21 x

624 Indo Energy Finance BV US45578UAA88 x

625 Indo Energy Finance II BV US45579AAA16 x

626 Indo Integrated Energy BV XS0296737561

627 Inner Mongolia Yitai Coal Co., Ltd. CNE000000SK7

628 Irkutskenergo JSC New RU0008960828

629 Jaiprakash Power Ventures Ltd. New INE351F01018

630 Jastrzebska Spolka Weglowa SA New PLJSW0000015

631 Jizhong Energy Resources Co., Ltd. CNE0000010H6

632 Kuzbasskaya Toplivnaya Kompaniya PJSC RU000A0JPYD7

633 Lubelski Wegiel BOGDANKA SA PLLWBGD00016

634 MC Mining Ltd. New AU000000MCM9

635 Mechel PAO New RU000A0DKXV5

636 Mercator Ltd. INE934B01028

637 Mitsui Matsushima Holdings Co., Ltd. JP3894000003

638 Mongolia Energy Corp. Ltd. New BMG6260K1348

639 NACCO Industries, Inc. US6295791031

640 New Hope Corp. Ltd. AU000000NHC7

641 Peabody Energy Corp. US7045511000

642 Pingdingshan Tianan Coal Mining Co., Ltd. CNE000001PH7

643 PT ABM Investama TBK ID1000121502

644 PT Adaro Energy Tbk ID1000111305

645 PT Bayan Resources Tbk ID1000111701

646 PT Bukit Asam Tbk ID1000094006

20

647 PT Bumi Resources Tbk ID1000068703

648 PT Dian Swastatika Sentosa Tbk ID1000113400

649 PT Golden Eagle Energy TBK ID1000100704

650 PT Golden Energy Mines TBK ID1000121106

651 PT Harum Energy TBK ID1000116601

652 PT Indika Energy Tbk ID1000110901

653 PT Indo Tambangraya Megah Tbk ID1000108509

654 PT Trada Alam Minera Tbk ID1000111909

655 PT United Tractors Tbk New ID1000058407

656 RAG-Stiftung New DE000A2LQRA1

657 Resources Prima Group Ltd. SG1W50939246

658 Rhino Resource Partners LP US76218Y2028

659 Sakari Resources Ltd. SGFDS0DG0E74

660 Semirara Mining & Power Corp. PHY7628G1124 x

661 Shaanxi Coal Industry Co., Ltd. CNE100001T64

662 Shanghai Datun Energy Resources Co., Ltd. CNE000001915

663 Shanxi Coal International Energy Group Co., Ltd. New CNE000001FH8

664 Shanxi Lu'An Environmental Energy Development Co., Ltd. CNE000001NT7

665 South32 Ltd. New AU000000S320

666 Southern Kuzbass Coal Co. PJSC RU0005294775 x

667 Southgobi Resources Ltd. CA8443751059

668 Stanmore Coal Ltd. AU000000SMR4

669 Tebian Electric Apparatus Stock Co., Ltd. New CNE000000RB8

670 The Lanna Resources Public Co., Ltd. New TH0409010Z03

671 Tian Di Science & Technology Co., Ltd. New CNE000001B90

672 Washington H. Soul Pattinson & Co. Ltd. AU000000SOL3

673 Wescoal Holdings Ltd. New ZAE000069639

674 Westmoreland Coal Co. US9608781061

675 Westmoreland Resource Partners LP US96108P1030 x

676 Whitehaven Coal Ltd. AU000000WHC8

677 Yancoal Australia Ltd. AU000000YAL0 x

678 Yang Quan Coal Industry (Group) Co., Ltd. CNE000001FP1

679 Yanzhou Coal Mining Co., Ltd. CNE1000004Q8

680 Zhengzhou Coal Industry & Electric Power Co., Ltd. CNE000000TS8

# companies 110


Removed


21

BHP Billiton Finance (USA) Ltd. US055451AW83

BHP Billiton Finance BV XS0155924276

BHP Billiton Finance Ltd. XS1309436910

BHP Finance (USA) Ltd. US055450AH34

BHP Group Ltd. AU000000BHP4

BHP Group Plc GB00BH0P3Z91

Oil Sand

681 Athabasca Oil Corp. CA04682R1073

682 BlackPearl Resources, Inc. CAFDS0PBCK89

683 Burlington Resources Finance Co. (ConocoPhillips) US12201PAN69 x

684 Canadian Natural Resources Ltd. CA1363851017

685 Cenovus Energy, Inc. CA15135U1093

686 Conoco Funding Co. US20825UAC80 x

687 ConocoPhillips New US20825C1045

688 ConocoPhillips Australia Funding Co. US20825RAB78 x

689 ConocoPhillips Canada Funding Co. I US20825TAA51 x

690 ConocoPhillips Canada Funding Co. II US20825VAB80 x

691 Devon Energy Corp. New US25179M1036

692 Devon Financing Corp. ULC US25179SAD27 x

693 Freehold Royalties Ltd. New CA3565001086

694 Husky Energy, Inc. New CA4480551031

695 Imperial Oil Ltd. New CA4530384086

696 MEG Energy Corp. CA5527041084

697 PC Financial Partnership (Suncor Energy, Inc.) US69320DAA72 x

698 Pengrowth Energy Corp. CA70706P1045

699 Petroteq Energy, Inc. New CA71678B1076

700 Suncor Energy, Inc. CA8672241079

701 Sunshine Oilsands Ltd. CA8678421063

# companies 21


Total list

# companies 623


22

Ethical investment policy

Lærernes Pension honors the ethical values reflected by society at large. Consequently,

the company complies with current legislation and international conventions to which

Denmark has acceded.

Lærernes Pension wants via the investments to encourage a balanced economic develop-

ment, free of corruption and with good working and living conditions, including responsi-

ble management of natural resources. Lærernes Pension supports an orderly and efficient

move to a low carbon economy and seeks to help society adapt to the consequences of

climate change. Our investments are made with due respect for democracy and freedom

of expression.

In particular, we emphasize that Lærernes Pension does not invest

in companies whose activities:

promote violent conflicts, including those companies based on the manufacture of or

trade in weapons,

imply violations of human rights,

imply violations of labor rights, including right to freedom of association and right to

collective bargaining,

include production of tobacco products

involve irresponsible management of natural resources and/or unnecessary pollution

of the environment, including arctic drilling related to the production of fossil fuels

counteract the transition to a low carbon economy, including production of thermal

coal and oil sands

exhibit a behavior characterized by corruption, including extortion and bribery

The blacklisted companies must not be bought by managers ... · 190 Walchandnagar Industries Ltd....

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