08.06.2015 - Norway pulls huge sovereign fund out of coal
Norway’s parliament voted Friday to pull its sovereign wealth fund – the world’s biggest – out of coal, in what is seen as a major victory for environmentalists. Parliament voted unanimously that the fund – worth almost 7,000 billion kroner ($890 billion) – must sell its holdings in mining and power companies that generate more than 30 percent of their output or revenue from coal. The decision was expected after the finance committee reached a compromise on the issue on May 27 and it is expected to affect between 50 and 75 international companies, representing holdings of 35 to 40 billion kroner, according to finance ministry calculations...............................................Full Article: Source
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