Norway’s sovereign fund drops coal companies

The fund has put two companies under observation for potential exclusion in the future. These are NorthWestern Corp and Portland General Electric. Norway’s central bank, which manages the fund, has excluded a total of 69 companies so far. The measure will not apply to corporations such as Anglo American, BHP Billiton and Glencore as coal is a relatively small part of their business. The fund posted a profit of 6.9% last year, with shares forming the majority of its portfolio. (Patria Online)



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