11.02.2015 - Fossil Fuel Divestment: Smart Bet or Losing Strategy?
Just last week, Norway announced that its sovereign wealth fund — an $850 billion pension reserve that was built on the Scandinavian nation’s oil and gas resources — had jettisoned more than 49 companies, many involved in coal and unconventional oil extraction, from its portfolio in 2014. The reason: “Uncertainty about the sustainability of their business model.” To be sure, Norway is still investing heavily in fossil fuels. But the move nonetheless adds to the more than $50 billion that proponents of divestment say has been pulled out of the fossil fuel sector by both institutional and individual investors since the movement was launched by climate activists in 2012...............................................Full Article: Source
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