norway votes to sell coal assets of its sovereign wealth fund
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Norway votes to sell coal assets of its sovereign wealth fund

Arab Today, arab today

Arab Today, arab today Norway votes to sell coal assets of its sovereign wealth fund

Norway's parliament
Oslo - Arab Today

Norway's parliament voted Friday to sell the coal assets of its state pension fund, the world's largest sovereign wealth fund, in what is seen as a major victory for environmentalists.

The parliament voted unanimously that the fund -- worth almost 7,000 billion kroner (793 billion euros, $890 billion) and which controls the equivalent of 1.3 percent of world market capitalisation -- must divest its holdings in mining and power companies that generate more than 30 percent of their output or revenues from coal.

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norway votes to sell coal assets of its sovereign wealth fund norway votes to sell coal assets of its sovereign wealth fund

 



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