Wealth Fund Ban Betrays Norway’s Awkward Fossil Fuel Goals
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Western Europe’s biggest oil producer has decided coal is too dirty to invest in.
Norway’s $890 billion sovereign wealth fund, built on more than four decades of extracting crude from the North Sea, was ordered by lawmakers on Wednesday to limit holdings of companies that produce or burn coal. That could trigger at least $4.5 billion in divestments of stocks such as RWE AG and Duke Energy Corp.