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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s wealth fund brings climate issues to fore

Posted on 12 June 2015

Climate change concerns have been brought to the fore with increased funds allocated from Norway’s $900 billion sovereign wealth fund, said Steinar Holden, professor from the department of economics of Oslo University. Norway agreed last Friday to sell stocks in all companies which have more than 30 percent revenues from coal or coal-based power. With this move, Norway plans to avoid environmental damage to the country.
The wealth from Norwegian sovereign wealth fund, which the country has dubbed an ‘oil fund,’ comes from the nation’s oil and gas revenues. The fund is invested in more than 80 countries and in 8,000 different companies in the coal, mining and banking sectors………………………………………..Full Article: Source


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