| Members of Norway's parliament voted unanimously during the first week of June to drop the biggest coal investments from its sovereign wealth fund. A week later, on June 11, the parliament approved a new budget item: 500 million kroner (about $65 million) to subsidize a state-owned coal mining company in Svalbard, Norway's archipelago territory about 450 miles north of the mainland.
The government will provide Store Norske Spitsbergen Grubekompani (SNSG) with 205 million kroner ($27 million) in loans and 295 million kroner ($38.5 million) to purchase new property. Ninety-six of the parliament's 169 members voted for the measure, and three voted against it...............................................Full Article: Source
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