World's biggest sovereign wealth fund to ditch fossil fuels | Business | The Guardian:
The world’s largest sovereign wealth fund, which manages $1tn (£786bn) of Norway’s assets, has been given the go ahead for the largest fossil fuel divestment to date by dropping more than $13bn of investments.
Norway’s parliament on Wednesday voted into law plans for the fund to dump investments in eight coal companies and an estimated 150 oil producers.
The divestment plan means the fund will drop coal investments worth an estimated $6bn, which could include shares in mining giants Anglo-American, Glencore and German energy company RWE.
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