Norway’s £1tn wealth fund likely to divest all oil and gas

Announcement jolts energy sector just hours after 19 countries commit to phasing out coal

North Sea Oil has driven Norway's sovereign wealth fund
North Sea Oil has driven Norway's sovereign wealth fund
(Image credit: Andy Buchanan/WPA Pool/Getty Images)

Norway’s $1tn sovereign wealth fund should be be divested of all interests in oil and gas companies, says the country’s central bank, “in a move that could have significant consequences for the sector”, says The Guardian.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up