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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s oil-based wealth fund sells out of more fossil fuel companies

Posted on 08 February 2016

Norway’s huge sovereign wealth fund, the world’s biggest, has sold out of 73 companies in the past year because their social or environmental policies could hurt profitability. The Norwegian state pension fund’s annual report relating to “responsible investment” did not give the names of companies, but it indicated that most were coal or energy companies using coal, as well as those involved in mining, producing cement and heavy construction.
“We want to measure the risk in our investments,” said the head of the fund, Yngve Slyngstad, in a statement on Thursday. “We expect companies to communicate the impact of their activities on the environment and the factors that could affect their long-term profitability,” he said………………………………………..Full Article: Source


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