| Norway's $900 billion sovereign wealth fund may soon have to drop its investments in the coal industry, thanks to a new set of rules making their way through the country's parliament. Starting next year, the fund would be forced to pull its money from companies such as mining firms or utilities that make at least 30 percent of their revenue from coal, according to the Associated Press.
The law received bipartisan support in committee and is widely expected to pass during a final vote early next month. This is a notable victory for climate change activists who have been lobbying institutional investors to divest from fossil fuels. A number of university endowments and foundations have already joined the cause, but Norway's sovereign wealth fund is the globe's largest, laying claim to roughly 1 percent of all the world's stocks and bonds. Environmentalists just landed a very, very big ally in their crusade....................................Full Article: Source
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