| Right on the money. The campaign to persuade big investors to sell off fossil fuel holdings has had its greatest triumph yet. Norway's sovereign wealth fund must sell off its $5 billion of coal holdings, the country's parliament voted last week. The fund is the largest stockholder in Europe, worth an astounding $900 billion.
The move won't put an end to coal-burning for the companies concerned – including Drax, the owner of the UK's biggest coal-fired power station. But campaigners argue that it sends a powerful message about how pumping ever more carbon dioxide into the atmosphere is ethically unacceptable. It also makes financial sense to disinvest, they say, as the value of fossil fuel companies depends on reserves they may not be allowed to burn in the future...............................................Full Article: Source
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