11.12.2014 - Norway’s Pension Fund Is Advised to Keep Fossil Fuel Shares
If the decision had been different, it might have made a dramatic headline: “Norway to sell out of oil companies.” Instead, a panel of experts advising Norway’s Finance Ministry recommended last week that the giant sovereign wealth fund that invests the country’s petroleum wealth remain an active investor in oil and coal companies. The six-person group was set up by the government this year in response to pressure from opposition parties for the fund to divest its holdings in companies that extract coal. Of all the fossil fuels, coal produces the highest emissions of greenhouse gases, which contribute to climate change. Environmental groups have been urging curbs on coal and tar sands as initial steps to a broad exit from all fossil fuels...............................................Full Article: Source
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