Category: Business News
OSLO, Aug 20 (Reuters) – Norway’s $1.4 trillion sovereign wealth fund, the world’s largest, should push firms it invests in to eventually cut their greenhouse gas emissions to nil by 2050, in line with the Paris Agreement, a government-appointed commission said on Friday.
Climate risk should also be made a part of the mandate of the fund, which is managed by Norway’s central bank. The fund should also continue to invest across industries, including the oil and gas sector, and push companies to decarbonise.
“The best way to decarbonise the fund is to decarbonise the companies the fund invests in,” the expert panel’s leader Martin Skancke said in a statement.