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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway wealth fund ban proves no hurdle for Arctic coal mining

Posted on 27 February 2014

As lawmakers in Oslo debate whether to ban their $840 billion sovereign wealth fund from investing in coal companies, the country has opened a new coal mine in the Arctic Svalbard archipelago.
Mining for coal in the northernmost reaches of the globe helps Western Europe’s biggest oil producer keep a presence in the fossil-fuel rich region as nations, including Russia and the U.S., jockey for power there. Norway is fighting for a claim to the Arctic as its North Sea oil and gas reserves start to run out after more than 40 years of production………………………………………..Full Article: Source


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