Norway’s wealth fund puts Indonesian SOE under observation on risk to prehistoric art

via Reuters, 26 May 2023: Norway’s wealth fund has put an Indonesian state-controlled cement maker, in which it has a stake, under observation for three years due to the risk of damage to prehistoric cave paintings on Sulawesi island, with the fund citing concerns over vibrations from drilling activities and dust from trucks as potential causes of erosion to the rock art. You can read the report from Norwegian Wealth Fund here. Disclosure: I was part of the team commissioned by the Norwegian Fund to assess the threats to the rock art which led to this observation decision.

Norway’s wealth fund has placed an Indonesian state-controlled cement maker, in which it has a stake, under observation for three years for what it calls “risk of damage” from the firm’s activities to prehistoric cave paintings on Sulawesi island.

A Semen Indonesia (SMGR.JK) subsidiary operates a mine near 18 caves in South Sulawesi which house some of the world’s oldest paintings, said Norges Bank, which manages the world’s biggest sovereign wealth fund Norges Bank Investment Management (NBIM).

Source: Norway’s wealth fund puts Indonesian SOE under observation on risk to prehistoric art | Reuters