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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments, Trends

Norwegian wealth fund may ditch Australian resource firms

Posted on 04 March 2014

Some of Australia’s biggest resource companies could lose a major investor if Norway goes through with a plan to ban its famous sovereign wealth fund from investing in coal, oil and gas. Norway’s sovereign wealth fund is the world’s biggest at $840 billion and is a major shareholder in companies such as BHP Billiton, Woodside Petroleum and Whitehaven Coal.
A non-government majority in the Norwegian parliament had been edging towards a vote on banning the fund from investing in coal, and the pressure has forced the government to launch a year-long expert review into whether the fund should cease investing in all forms of fossil fuel………………………………………..Full Article: Source


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