11.03.2014 - Norway may divest from fossil fuels – is it hypocrisy or pragmatism?
Norway’s $840 billion sovereign wealth fund is the biggest investment fund in the world. On average, it owns 1.3 per cent of every publicly listed company. Investors around the world watch its decisions. So when the Norwegian parliament voted late last month to look into selling off its holdings of fossil fuel companies, it was a big deal for both the financial and environmental community. It’s estimated fossil fuel shares make up about 8.4 per cent of the fund’s portfolio – about $44 billion. Divestment would be a huge victory for the climate movement, which has encouraged institutional investors to get out of carbon-intensive companies on both moral and financial grounds...............................................Full Article: Source
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