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Sovereign Wealth Funds Briefing - Categorized | Market

Lessons for Australia from Norway’s petro-wealth debate

Posted on 15 April 2014

As the Minerals Council of Australia launches its latest defence against the fossil fuel divestment campaign and Prime Minister Abbott directs the Clean Energy Finance Corporation to cease financing renewables, on the other side of the world Norway is considering whether to divest its Sovereign Wealth Fund of fossil fuels and invest more of its oil-driven fortune in green technology.
At $840 billion, the Norwegian Sovereign Wealth Fund is the largest shareholder in Europe and owns 1 per cent of all publicly listed companies worldwide. Its investments are spread across more than 8000 companies in 82 countries so, as World Wide Fund for Nature Norway chief executive Nina Jensen points out, “every decision Norway makes on this fund sends signals around the world.”……………………………………….Full Article: Source


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