Author: McKinley Corbley / Source: Good News Network
Norway boasts the world’s largest sovereign wealth fund – and they have just announced that they will be dumping billions of dollars worth of investments in oil and gas firms.
The Government Pension Fund Global (GPFG), which manages roughly $1 trillion worth of the nation’s assets, announced earlier this week that they would begin withdrawing their investments from 134 international fossil fuel companies, amount to roughly $8 billion.
They did, however, say that they would be keeping their investments in oil and gas companies that have added renewable energy sources to their divisions.
Though the divestment is largely motivated by the nation’s attempt to financially diversify their assets away from their current dependence on gas and oil, Greenpeace UK’s oil campaigner, Charlie Kronick,…
The post World’s Largest National Wealth is Now Being Withdrawn From Oil and Gas Stocks appeared first on FeedBox.