16.08.2013 - Major flaws in $760bln oil fund’s approach to climate change and sustainable investment
The ethical footprint of the world’s largest sovereign wealth fund is “severely limited” according to a major new review of its investment strategy. The Government Pension Fund of Norway (GPF), also known as the ‘oil fund’, owns around 1.25% of the world’s stocks and is valued at a reported $760 billion. It is owned by the state and funded primarily by surplus wealth from the country’s petroleum industry. But an investigation by the thinktank Re-Define, commissioned by Norwegian Church Aid, has found what it calls “serious deficiencies” in the fund’s investment strategy. Researchers claim it is lagging behind many of its peers on a number of issues, including ethical investment and sustainability...............................................Full Article: Source
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