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Norway sovereign wealth fund accused 'pretend divestment'

2015-05-28 09:05:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: The worlds richest sovereign wealth fund has sunk more money into coal just three months after a high-profile pledge to dump fossil fuels as part of its commitment to responsible investing, according to financial analysis by three environmental groups. Instead of reducing its overall exposure to businesses based on coal, the Norwegian Government Pension Fund (GPF) increased its holdings by 3bn Norwegian kroner to NOK 85.8bn ($1bn/7.3bn) by the end of last year, the report Still Dirty, Still...

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