Norway's Coal Divestment from $900B Fund Could Hit U.S. Companies

"Directors of the Norwegian sovereign wealth fund, an investment pool worth more than $900 billion, will sell many of its coal industry holdings, officials said last week.

Norway's Parliament voted Friday to ratify the decision, made a week before by the body's finance committee. Parliament ordered the fund to sell stakes in mining and power companies that directly, or indirectly, base 30 percent or more of their revenue or their regular activities on coal.

The new screening method will go into effect in 2016. Petter Johnsen, the fund's chief investment officer, said in May that the new policy would affect between 50 and 75 listed companies."

Benjamin Hulac reports for ClimateWire June 8, 2015.

Source: ClimateWire, 06/09/2015