Norway wealth fund dumps oil stocks amid 10bn-dollar loss
The world's largest sovereign wealth fund, in itself a colossal accumulation of fossil capital and returns generated thereof, announces that it's offloading a full portfolio of assets tied to oil and gas exploration and production, thereby sending yet another signal that the world of investment is turning away from black energy – and not only for ethical reasons.
Photo: Angus Mordant/Reuters/Ritzau Scanpix
BY LARS ERIK TARALDSEN, BLOOMBERG NEWS
Norway’s sovereign wealth fund has sold its entire portfolio of companies focused on oil exploration and production, marking a major step away from fossil fuels for the investing giant.
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