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Norwegian Parliament Set to Ban Coal Investments


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Norwegian Parliament Set to Ban Coal Investments

OSLO - On May 27, the Finance Committee of the Norwegian Parliament issued a unanimous recommendation to divest the country’s sovereign wealth fund from the coal industry. The Norwegian Government Pension Fund Global is not only the world’s largest sovereign wealth fund; it is also one of the top ten investors in the global coal industry.[1]

The recommendation asks the government to exclude companies deriving more than 30% of their revenues or their power production from coal. It will be formally adopted by the Parliament on June 5.

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