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

Discussion in 'Market News' started by Lily, Feb 5, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    The 73 companies posed too much of a social or environmental risk to the $794bn fund, the annual report said, as it steps up its divestments

    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.

    Related: Coal 'isn't going anywhere' despite renewables boom, says industry head

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