Orlen disappeared from the “Shame list”: As a result of recovery activities undertaken by the current Board Orlen regained trust Norges Bank Investment Management and stayed removed from the observation list – the company reports in a statement. The concern was on it after the purchase of a media company Poland Press by the previous board. His actions were then assessed by the Norwegian bank as risk resulting “violations of human rights“. Norges Bank He removed the concern from the “Shame list” a year earlier than the observation time predicted, considering that the current management was eliminated by the risks found.
“It's a past”: “Orlen regains investors' trust,” commented the company's president Ireneusz Fąfara. He estimated that Orlen should never have been on this “embarrassing list” of a dozen or so companieswho were accused of violating human rights. “Fortunately, this is the past. Norges Bank clearly indicated that our mechanisms for the protection of the freedom of the press meet The highest international standards. Now we focus on the future and what is the basis of our business written in our ambitious strategy: the energy of tomorrow begins today ” – he added.
Positive opinion of the Council: In December 2024, Orlen obtained a positive opinion of the Ethics Council operating at Norges Bank, which was the basis for the final decision of February 6, 2025 deleting the concern from the observation list. Norges Bank Investment Management manages the largest state investment fund in the world, and its recommendations undertaken on the basis of restrictive principles and criteria may constitute a clue to investors as to the assessment of a given entity.
Read also: “Orlen's giant investment has started. 11 ships came to the Baltic Sea“.
Source: Orlen