Norway's oil fund ditches 52 coal and mining companies

The Norwegian sovereign oil wealth fund has released a list of mines and energy companies that it will no longer invest in, stating that they are too dependent on coal. The fund will, however, remain available towards companies willing to change.

Photo: Wintershall

Norway's oil fund, which controls capital worth USD 860 billion, has released a list of mines and energy companies which will be cut from the investment portfolio due to activities with coal, according to UK newspaper The Independent.

The Norwegian government introduced tightened requirements in February for which companies the wealth fund may invest in. One requirement excluded companies which have more than 30 percent of activities or revenue in coal, and this is the limit which excludes the 52 companies.

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