Norway’s oil fund looks to drop coal power utilities

May 27, 2015 – Norway’s colossal oil fund will consider pulling billions of dollars of investments out of coal in a move that threatens European utilities using the fossil fuel to generate power.

Members of the finance committee of Norway’s parliament confirmed on Wednesday night that opposition and governing parties had reached agreement that the $916bn fund should divest from companies whose business relies more than 30 per cent on coal, measured either by revenue from coal or by the percentage of power they generate from it.


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