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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s $900bn sovereign wealth fund told to reduce coal assets

Posted on 28 May 2015

Finance committee agrees fund which owns 1.3% of all listed companies globally should sell stakes in firms generating more than a third of income from coal. Norway’s $900bn sovereign wealth fund, the world’s largest, should cut its exposure to the global coal industry and sell stakes in firms that focus on the sector, a key parliamentary committee said on Wednesday.
The finance committee agreed in a bipartisan motion that the fund, which owns about 1.3% of all listed companies globally, should sell stakes in firms that generate more than 30% of their output or revenues from coal-related activities. Already under pressure from Norway’s political establishment, the fund has been selling down its coal portfolio in recent quarters and said its holdings were already small……………………………………Full Article: Source


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