Press

In 2016, the Norwegian parliament mandated the fund, which invests Norway’s revenues from oil and gas production in stocks, bonds and real estate abroad, to sell out of firms that derive more than 30 percent of their activities or revenues from coal. “This divestment from coal means that the fund does not generally invest in an energy source that will probably not survive the transition to a low-carbon society,” the fund said in a letter to the Norwegian Ministry of Finance, adding that the fund’s exposure to climate risk therefore differs from that of a general, market-weighted portfolio. - Reuters -