- Norway’s sovereign wealth fund may have to sell its $1 billion stake in Glencore Plc (LON:GLEN), a commodities trading and mining giant.
- The fund may also have to divest from other companies whose coal revenues surpass 30% of their total revenues or produce over 20 million tonnes of coal each year.
Norway’s sovereign fund manages assets worth over $1 trillion and is the world’s largest sovereign fund.
The fund may have to dispose stakes in other miners as new rules on ethical investing are set to be approved by Norway’s parliament later today.
The new rules are a result of campaigns by environmental activists such as Urgenwald and Greenpeace.