Loophole lets Norway's USD 1 trillion fund boost its coal exposure
Norway's Sovereign Wealth Fund has made major divestments from coal assets in recent years, spurred on by parliamentary legislation enacted in 2015. However, an output threshold clause provides a loophole for the fund to increase its overall exposure to the major climate change culprit.
BY BLOOMBERG NEWS, MIKAEL HOLTER
Norway's massive sovereign wealth fund has increased its exposure to coal reserves even after imposing restrictions on investing in the fossil fuel that has seen as one of the main catalysts for global warming, according to a report.
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