16.03.2015 - Norway's giant fund increases stake in oil and gas companies to £20bn
The world’s richest sovereign wealth fund increased its stake in major oil and gas companies to £20bn in 2014, disappointing campaigners who argue it should continue to sell off its investments in the fossil fuels that drive climate change. Norway’s Government Pension Fund Global (GPFG), which rose to £531bn in total, revealed in February that it had shed 32 coal mining companies due to concerns that action on global warming would cut their value. Analysis by the green NGO Future In Our Hands of official data released on Friday shows the fund holds financial stakes in 90 of the top 100 oil and gas companies, as ranked by the amount of carbon in their reserves...............................................Full Article: Source
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