USD 85 billion asset manager is planning a total exit from coal
The biggest publicly-traded life insurer in Norway, Storebrand ASA, is planning a total exit from coal by 2026.
By Mikael Holter
Storebrand ASA is just one of a widening field of investors withdrawing from the most polluting fossil fuels as the threat of climate change reshapes asset management. The asset manager has already excluded 64 companies with ties to coal since it introduced its first restrictions in 2013. Norway's USD 990 billion (EUR 871 billion) sovereign wealth fund, the world’s largest, cut its exposure to coal after introducing similar rules in 2015.
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