World's biggest sovereign wealth fund dumps dozens of coal companies

Norway’s giant fund removes investments made risky by climate change and other environmental concerns, including coal, oil sands, cement and gold miningThe world’s richest sovereign wealth fund removed 40 coal mining companies from its portfolio in 2014, citing the risk they face from regulatory action on climate change. Norway’s Government Pension Fund Global (GPFG), worth $850bn (£556bn) and founded on the nation’s oil and gas wealth, revealed a total of 114 companies had been dumped on environmental and climate grounds in its first report on responsible investing, released on Thursday. The companies divested also include tar sands producers, cement makers and gold miners. Continue reading...
Source: Guardian Unlimited Science - Category: Science Authors: Tags: Fossil fuel divestment Climate change Environment Norway Europe World news Sovereign wealth funds Coal Oil sands Business Fossil fuels Source Type: news