Norways Wealth Fund moves from oil to renewables

[Tommy Tainant]

Norway's $1tn wealth fund to divest from oil and gas exploration

The world’s largest sovereign wealth fund, which manages $1tn (£770bn) of Norway’s assets, is to dump investments in firms that explore for oil and gas, but will still hold stakes in firms such as BP and Shell that have renewable energy divisions.

The Government Pension Fund Global (GPFG), whose assets exceed those of rival sovereign wealth funds such as China’s, said it would phase out oil exploration from its “investment universe”.

The Saudis have made the same decision. Its pretty clear what the future holds.

 

[Frankeneinstein]

Norway's $1tn wealth fund to divest from oil and gas exploration

The world’s largest sovereign wealth fund, which manages $1tn (£770bn) of Norway’s assets, is to dump investments in firms that explore for oil and gas, but will still hold stakes in firms such as BP and Shell that have renewable energy divisions.

The Government Pension Fund Global (GPFG), whose assets exceed those of rival sovereign wealth funds such as China’s, said it would phase out oil exploration from its “investment universe”.

The Saudis have made the same decision. Its pretty clear what the future holds.

you mean "going back to the future"...in the future we will once again ride down streets seeing old solar panels dotting the rooftops of dupes who were resold this old tired scam from the 70's...so this fund from norway differs from the "GPFG" in what way?...speaking of funds, you never delivered on that promise of yours.

 

[Dekster]

Okay so they are still investing in oil and gas companies and pretending they are not really.

 

[Frankeneinstein]

Okay so they are still investing in oil and gas companies and pretending they are not really.

bingo

 

[Toddsterpatriot]

Norway's $1tn wealth fund to divest from oil and gas exploration

The world’s largest sovereign wealth fund, which manages $1tn (£770bn) of Norway’s assets, is to dump investments in firms that explore for oil and gas, but will still hold stakes in firms such as BP and Shell that have renewable energy divisions.

The Government Pension Fund Global (GPFG), whose assets exceed those of rival sovereign wealth funds such as China’s, said it would phase out oil exploration from its “investment universe”.

The Saudis have made the same decision. Its pretty clear what the future holds.

They're taking money they earn from oil and investing it in "not oil".
Sounds like common sense diversification. It doesn't sound like oil is evil.

 

[Tommy Tainant]

I really dont understand the animosity to renewables. There is away to go yet but the reward will be a better world for all of us.