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Norway's $900bn sovereign wealth fund told to reduce coal assets

2015-05-28 08:17:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: Norways $900bn sovereign wealth fund, the worlds largest, should cut its exposure to the global coal industry and sell stakes in firms that focus on the sector, a key parliamentary committee said on Wednesday. The finance committee agreed in a bipartisan motion that the fund, which owns about 1.3% of all listed companies globally, should sell stakes in firms that generate more than 30% of their output or revenues from coal-related activities. Already under pressure from Norways political...

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