Norway sovereign-wealth fund aims to dump a swath of oil and gas stocks

📆 9/3/2019 2:01 AM
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Norway’s Finance Ministry on Friday recommended that the country’s $1 trillion sovereign-wealth fund drop shares of energy companies that engage in exploration and production of oil and gas from its portfolio, a move that could potentially weigh on the energy sector.

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World's largest sovereign wealth fund to scrap oil and gas stocksNorway's trillion-dollar sovereign wealth fund plans to dump oil and gas companies from its benchmark index, the finance ministry announced on Friday. Not having all eggs in the same basket is usually regarded as sound risk management- the riddle is why it has not been implemented long ago. A country that actually collectively believes in climate change, aren’t bought and paid for by oil and gas companies? That sounds really nice.
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