Billionaire Adani’s Ports Unit Blacklisted by Norway Wealth Fund

Norway’s $1.7 trillion sovereign wealth fund has decided to exclude Adani Ports & Special Economic Zone Ltd. from its portfolio, citing “unacceptable” risks that the company is tied to human rights violations in war and conflict zones.

Norges Bank Investment Management, which manages the fund, announced the decision in a statement late on Wednesday. The investor is also excluding US-based L3Harris Technolgies Inc., which develops components for nuclear weapons, and China’s Weichai Power Co., based on concerns it’s contributing to the sale of military equipment to Russia and Belarus.

The decision follows recommendations late last year from ...