Norway Oil Fund to Slash Coal Investments

May 28, 2015 8:27 AM

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Norway's parliamentary parties have agreed that the country's $900 billion sovereign wealth fund should stop investing in coal companies because of their impact on climate change.

Under new rules to be presented by Parliament's finance committee on Thursday, the fund — also known as the oil fund — would exclude companies that get at least 30 percent of their revenue from mining coal or burning it.

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