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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Norway’s wealth fund drops 52 coal companies

Posted on 15 April 2016

Norway’s sovereign wealth fund, the world’s biggest, has excluded 52 coal-related companies after new ethical guidelines went into effect barring it from investing in such groups, Norway’s central bank said on Thursday. In June 2015, parliament agreed to pull the fund out of mining or energy groups which derive more than 30 percent of their sales or activities from the coal business.
The new directive went into effect on February 1. The fund, fuelled by Norway’s state oil revenues and currently worth around 7.11 trillion kroner (765.5 billion euros, $864 billion), has therefore sold its stakes in 52 companies, most of them American and Chinese, including Peabody Energy, the biggest US coal producer………………………………………..Full Article: Source


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