"We have monitored Adani for many years (on ESG) issues, many on their handling of environmental risks," Christopher Wright, the fund's head of ESG risk monitoring, told a news conference.

    The fund had divested from five Adani companies since 2014 and at the end of 2022, it remained invested in three, including Adani Ports.

"Since year-end, we have further reduced in Adani companies. We have no exposure left," he said.

At the end of 2022, the Norwegian fund held shares in Adani Green Energy worth $52.7 million, a stake in Adani Total Gas worth $83.6 million and ownership in Adani Ports & Special Economic Zone worth $63.4 million.

(Reporting by Terje Solsvik, editing by Gwladys Fouche)