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Sovereign Wealth Funds Briefing - Categorized | Trends

Norway plans to pull oil fund out of fossil fuels

Posted on 03 March 2014

Norway said Friday that it would consider pulling its enormous state oil fund out of overseas investments in fossil fuels. Norway has the world’s largest sovereign wealth fund, which has invested the nation’s oil wealth in a range of stocks, bonds and other vehicles — including major oil and gas companies.
An independent panel of experts will report back to parliament in 2015 on the likely consequences of the fund — which is worth almost $840 billion (610 billion euros) — divesting from coal, oil and gas businesses, the rightwing ruling coalition said Friday. It was not clear whether any pull-out would affect all fossil fuel extraction companies, or whether it would also include power companies………………………………………..Full Article: Source


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