Why Norway’s sovereign wealth fund is ditching fossil fuels

To comply with the new directive, the fund looks set to divest assets in mining giants working with coal, such as Glencore, BHP Billiton and Anglo American, and energy companies such as Germany’s RWE and Italy’s Enel.

The proposal was originally put forward by the country’s right-wing government in April, and aimed at tightening the criteria for managing the fund.

Previously, the fund was told to only keep clear of mining companies or energy producers whose coal-related activities represented 30 percent or more of their business.
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