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Pension fund and NGO praise the Oil Fund's climate plan for short-term goal

This week, the oil fund released a new climate action plan for its 2025 goals and set a net-zero target for all portfolio companies by 2050.

Heidi Finskas, vice president of corporate responsibility at KLP

The world is facing an environmental crisis and threat to the very viability of life on earth – and these concerns will also negatively affect the global economy. With holdings in more than 9,000 companies in 70 countries, the oil fund has a clear economic motivation to help attain the goals laid out in the Paris Agreement.

”We have a goal to be the world’s leading investor when it comes to handling the climate. Our long-term returns will be completely dependent on how companies in the portfolio transition to a net-zero society,” Oil Fund CEO Nicolai Tangen said in a press release earlier this week.

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