Norwegian national wealth Fund — the world's largest financial organizations of its kind is exclude from your portfolio some of the world's largest mining companies, including Swiss Glencore, Anglo American, South African, German company RWE, the South African petrochemical company Sasol and Dutch company AGL Energy.
In June 2019, the Norwegian Parliament agreed that the world's largest Fund will no longer invest in companies that produce over 20 million tons of coal per year or produce more than 10 gigawatts (GW) of electricity from coal.
the Foundation created in 1996 to preserve income from the oil industry for future generations of Norway is one of the largest investors in the world, today he owns about 1.5% of all shares listed on the world market.
the Foundation also said that preclude the four canadian oil companies due to excessive greenhouse gas emissions. The reason he used for the first time.
three companies were excluded for damage to the environment, namely the Egyptian ElSewedy Electric Co, Brazilian mining company Vale SA iron ore and Brazilian Eletrobras holding company.
Norwegian investors, according to them, it took a very long time to sell shares in a few firms are excluded because of the "situation on the market, including liquidity in individual shares."
the Decision of the Norwegian Parliament last year about the establishment of limits of coal production and limits on energy produced from coal, has tightened existing regulations, according to which the Fund is not allowed to invest in the company, which has received more than 30% of their income from the sale of coal.
"This is good news that the largest producers of coal in absolute terms, finally came out of the Fund", - told Reuters the Elsa Handel, acting leader of environmental policy at green group WWF Norway.
In the last days of March 2020 the assets of the Norwegian Fund was estimated at 10 trillion Norwegian kroner (about 972 billion U.S. dollars). In the first quarter, the Fund had a net loss of 14.6% of assets. His stock portfolio fell by 21.1%, while investments in fixed income bonds rose 1.3%.
