Oslo signals a shift for investors in oil and gas | Financial Times:
The debate in Oslo over whether Norway’s oil fund should sell out of oil and gas stocks was always bound to be polluted by a mix of ethical, environmental and political considerations.
Sure enough, the government’s recommendation to the fund is not a clean yes or no. In fact, it is nuanced to such a degree that it offers satisfaction neither to diehard advocates of divestment from fossil fuels, nor to those who would argue it is reckless to withdraw support from companies that still largely keep the lights on.
Even so, the recommendation, if followed by the Norwegian parliament, does represent a shift. It will not prompt other investors to rush for the exits. But it is a further signal that peak demand for oil is now visible on the investment horizons of the longest term investment funds.
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