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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s Pension Fund vows to purge holdings that drive deforestation

Posted on 16 November 2012

When it comes to saving the world’s dwindling rainforest, Norway has been a leader in guiding the world toward sustainable forest management. The small country pledged $500 million annually toward REDD+ (reducing emissions from deforestation and degradation) in 2007. These efforts, however, have largely been offset by the Norwegian Government Pension Fund-Global, (GPFG), which currently has US $13.7 billion invested in sectors known to be major drivers of deforestation.
Colloquially known as “Norway’s Pension Fund”, the GPFG has ratcheted up its investments in forest-unfriendly endeavors such as oil palm plantations, cattle ranching, and mining over the past year, according to the Rainforest Foundation Norway and Friends of the Earth Norway, which jointly published their findings in “ Beauty and the Beast-Norway’s investments in rainforest protection and rainforest destruction”……………………………………….Full Article: Source

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