Norway raked in money from oil in the past. But now the country's Norges Bank, which manages its $1 trillion wealth fund - the world's largest - is recommending the government dump fossil fuel stocks. They said the move "will make the government's wealth less vulnerable to a permanent drop in oil and gas prices." According to Bloomberg, this could mean getting rid of $35 billion in stocks - and European oil stocks plummeted after the proposal. Related:
from Inhabitat - Green Design, Innovation, Architecture, Green Building https://inhabitat.com/worlds-largest-sovereign-wealth-fund-could-ditch-oil-and-gas-stocks
via Inhabitat
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