Norwegian Oil Fund prepares for £13bn pivot from fossil fuels to renewables

clock
Norwegian Oil Fund prepares for £13bn pivot from fossil fuels to renewables

Around $7.5bn set to be divested from 150 oil and gas firms, with a further $7.5bn drawn out of coal companies following crucial parliamentary vote

The Norwegian parliament yesterday voted to instruct the country's trillion-dollar sovereign wealth fund to ditch more than $13bn in fossil fuel stocks, in what experts estimate may be the world's biggest-ever...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join now

 

Already a BusinessGreen
member?

Login

More on Investment

An artist's impression of the planned Immingham plant | Credit: Velocys

Sustainable fuels company Velocys raises £25m in oversubscribed funding round

CEO says firms waste-to-jet fuel technology is now ready for commercial scale deployment

Cecilia Keating
clock 26 November 2021 • 3 min read
UNEP calculates that fashion production and consumption is responsible for 10% of global emissions | Credit: iStock

Study: Fashion sector decarbonisation can deliver attractive financial returns to investors

Major report calculates that $1tr will be required to decarbonise resource and carbon-intensive sector, of which just $50bn needs to be covered by government and philanthropy

Cecilia Keating
clock 26 November 2021 • 3 min read
Co-op's new Carbon Innovation Fund will award up to ten grants a year of £100,000 to low carbon food and farming projects | Credits: Co-op

Co-op pledges £11m to support community environmental projects

The leading retailer has launched a new fund that will award grants to organisations innovating in low carbon food and farming

clock 25 November 2021 • 3 min read