| The world’s richest sovereign wealth fund has rid itself of investments in Australian coal companies, highlighting the environmental impact of the production of the commodity. Norges Bank, manager of the $US850 billion Norwegian Government Pension Fund, has outlined the divestment of its interests in 14 coal miners around the world in 2014.
Five Australian companies among them included Whitehaven Coal, owner of the Maules Creek project, which has been under constant scrutiny from green groups. The bank said when choosing to withdraw its investment in coal miners it paid particular attention to how heavily companies were exposed to the energy markets...............................................Full Article: Source
|