Norway wealth fund should push firms to cut emissions to nil, says panel

  • 8/20/2021
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OSLO, Aug 20 (Reuters) - Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, should push companies it invests in to eventually cut their greenhouse gas emissions to nil, in line with the Paris Agreement, a government-appointed commission said on Friday. The Norwegian fund, set up 25 years ago to share revenues from Norway’s oil and gas industry with future generations, owns 1.4% of all globally listed stocks on average, across more than 9,100 companies worldwide. It also owns government bonds and some fixed assets. The fund should maintain a strategy of broad portfolio diversification, the report added. Excluding whole industries, such as oil and gas, would not improve the fund’s tradeoff between risk and return, the report said. Reporting by Gwladys Fouche, editing by Terje Solsvik Our Standards: The Thomson Reuters Trust Principles.

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