An $85 Billion Asset Manager Is Planning a Total Exit From Coal
- Norway-listed Storebrand targets divestments by 2026
- Insurer to gradually tighten restrictions over next 8 years
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The biggest publicly traded life insurer in Norway, Storebrand ASA, is planning a total exit from coal by 2026.
They’re 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 $990 billion sovereign wealth fund, the world’s largest, cut its exposure to coal after introducing similar rules in 2015.