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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments, Market

Norway oil fund could sell coal-related shares worth $6.6 bln

Posted on 07 September 2015

Norway’s $828 billion sovereign wealth fund believes a new rule curtailing its investments in coal-dependent businesses could lead it to sell shares in companies across the world worth about 55 billion Norwegian crowns ($6.6 billion), it said.
Around 120 companies are likely to be affected, it said in a letter to the country’s finance ministry. Under a deal struck in parliament in June, the fund will divest from companies that get more than 30 percent of their turnover from coal, including both mining firms and power generators. The business of buying, selling or transporting coal should, however, be exempted from exclusion, as should the distribution and trading of power, the fund said in its letter………………………………………..Full Article: Source


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