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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 13013 times)

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AGelbert

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    • Renwable Revolution
World Largest Wealth Fund Drops 52 Companies Linked to Coal     

Climate Nexus | April 15, 2016 8:52 am 

Norway’s sovereign wealth fund sold shares worth $2.3 billion in 52 coal-dependent companies, the country’s central bank announced Thursday.


Greenpeace estimates that this was the single biggest divestment from coal yet and media called the move “a sign of the growing influence investors wield in the fight against climate change.”

The fund, worth $836 billion and currently the largest in the world, pledged in June to divest from companies that make 30 percent or more of their revenue from coal. This is the first of multiple divestment actions that the government has planned for this year.

For a deeper dive: Reuters, Bloomberg, Financial Times, AFP

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, and sign up for daily Hot News.

http://ecowatch.com/2016/04/15/wealth-fund-drops-coal/
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

 

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