World’s largest sovereign wealth fund to scrap oil and gas stocks

World’s largest sovereign wealth fund to scrap oil and gas stocks

Norway’s $1 trillion wealth fund, the biggest sovereign fund in the world, will begin dumping its shares in oil and gas companies. Minister of Finance Siv Jensen said Friday that the move is aimed to ’reduce the vulnerability of our common wealth to permanent oil price decline’.

KCooper
KCooper
Max Maidment
Max Maidment 1 year

Smart move. Be the first out, watch everyone else scramble to follow suit.

Hannibal
Hannibal 1 year

The irony is the people think this is an environmental statement when in reality it's a recognition that massive increases in supply are outstripping demand and thus dividends are falling. Their timing is poor. They'd have made out like bandits if they'd done it five years ago.

M.Twain
M.Twain 1 year

Sell high buy low, invest in sunrise businesses, get out of sunset businesses. Old business axioms that more often than not hold true.

Frederic Lück
Frederic Lück 1 year

We wouldnt have a resource problem if countries would just use atomic energy and worked towards fusion

Top in Business
Get the App