17.03.2015 - Norway fund turns green, exits coal stocks
The $850-billion Norwegian Government Pension Fund, the world's largest sovereign wealth fund, has sold off almost all of its holdings of Indian coal and power stocks such as Coal India, Adani Power, GVK Infra and NTPC, Lanco Infratech, CESC and Monnet Ispat, among others, during 2014, citing risks posed to climate, according to the list of sovereign fund's holdings available with dna said. The massive fund, which is minority shareholder in more than 9,000 companies across the globe, however has curiously made investment in Reliance Power during the year. The sell-off has not been restricted to India alone as investments in global energy majors, 16 from the US including Alpha Natural Resources, Arch Coal, Consol Energy and Peabody, five Australian coal companies like Coal of Africa, Coalspur Mines and Whitehaven Coal, and also Exxaro of South Africa have been sold off..............................................Full Article: Source
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