Norway wealth fund dumps oil stocks amid 10bn-dollar loss

The world's largest sovereign wealth fund, in itself a colossal accumulation of fossil capital and returns generated thereof, announces that its offloading a full portfolio of assets tied to oil and gas exploration and production, thereby sending yet another signal that the world of investment is turning away from black energy – and not only for ethical reasons.

Photo: Angus Mordant/Reuters/Ritzau Scanpix

BY LARS ERIK TARALDSEN, BLOOMBERG NEWS

Norway’s sovereign wealth fund has sold its entire portfolio of companies focused on oil exploration and production, marking a major step away from fossil fuels for the investing giant.

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Norway wealth fund dumps oil stocks amid 10bn-dollar loss

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Front page now

Nordic Alpha Partners reels in international investment giants for second fund

Norwegians are investing record amounts in funds

World's best EMD team still waiting for clients to return to Danske AM

Storeband increases stake in Danish infrastructure manager to become majority owner

Nordic institutional investors still see potential in beleaguered Swedish battery producer

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New Nordic high yield manager keeps attracting inflows

KLP excludes US construction supplier over Gaza connection

Swedish FSA fines church pension fund for failing to limit investment risks

Danish pension fund drops drilling platform investments

Expansion of Nordic team has paid off: Inflows to all core products for US manager

Further reading

World's best EMD team still waiting for clients to return to Danske AM

Invesco seeing increased demand for Fixed income ETFs from Nordic investors

Storeband increases stake in Danish infrastructure manager to become majority owner

Nordic institutional investors still see potential in beleaguered Swedish battery producer

New Nordic high yield manager keeps attracting inflows

Expansion of Nordic team has paid off: Inflows to all core products for US manager