Norway Wealth Fund Criticized Over Climate Goals
A report by an environmental NGO claims Norway's 2.2 trillion dollar sovereign wealth fund is failing to meet its climate ambitions. The analysis suggests the fund has pulled back from active engagement with major oil and gas producers despite its stated goal of reaching net zero by 2050.
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Norway's $2.2 trillion sovereign wealth fund is pulling back from active climate engagement despite its net-zero 2050 targets, a green group report says. The fund manages assets for 7,200 companies and aims for total portfolio decarbonization by 2050. Investors monitor the world's largest asset owner as a bellwether for global ESG enforcement and financial risk management.
