World’s biggest sovereign wealth fund to ditch fossil fuels

Norway’s Government Pension Fund Global gets go ahead to divest $13bn of investments

The world’s largest sovereign wealth fund, which manages $1tn (£786bn) of Norway’s assets, has been given the go ahead for the largest fossil fuel divestment to date by dropping more than $13bn of investments.

Norway’s parliament voted plans into law on Wednesday for the fund to dump investments in eight coal companies and an estimated 150 oil producers.

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World’s biggest sovereign wealth fund to ditch fossil fuels