| Norway’s sovereign wealth fund has written to energy companies, asking them to outline their plans to deal with the transition to a low-carbon economy. In a letter to the Ministry of Finance accompanying its inaugural responsible investment (RI) report, Norges Bank Investment Management (NBIM) noted a recent decision not to use the Government Pension Fund Global as a tool for enacting climate policy by mandating a blanket divestment of fossil fuel holdings.
NBIM contrasted the blanket exclusion of one or more sectors with its ability to monitor companies actively and potentially not invest in them, noting that sector-wide bans would directly conflict with the “basic premise” of its approach to management...............................................Full Article: Source
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