Wealth fund suggestions

NORWAY’s $1 trillion (R11.94 trillion) sovereign wealth fund, the world’s largest, set out new expectations yesterday for the 9 100 companies it invests in regarding the way they prevent and fight corruption internally. The fund suggested, among other things, that boards should ensure that firms establish anti-corruption policies and procedures to prevent and address corruption and that these should be clearly communicated to employees. “Companies should have a whistle-blowing mechanism that provides a separate and confidential escalation route when reporting through a line manager is not appropriate, or if the whistle-blower wishes to remain anonymous,” the fund said.