29.05.2015 - AGL, New Hope could be hit by Norway divestment drive but BHP and Rio safe
AGL Energy and coal miner New Hope Corp could be the biggest casualties of a proposed directive by Norway's parliament for the nation's $US900 ($1.16 trillion) sovereign wealth fund to sell out of coal stocks. The plan would build on earlier steps by Norway's Government Pension Fund Global (GPFG) to reduce its coal exposure and adds momentum to a global push for divestment from coal. The GPFG is built on Norway's oil wealth and the latest measure would capture power companies that depend on coal for more than 30 per cent of generation as well as miners that get 30 per cent of their revenues from thermal coal. The GPFG sold out of Whitehaven Coal last year. ...................................Full Article: Source
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