Tag Archives: Norwegian Government

Bloomberg: Norway Warns Its Companies to Not Hurt Brazil’s Rainforest

Norway’s government warned companies present in Brazil against any involvement in deforestation amid escalating international criticism of the Latin-American country’s management of the Amazon rainforest.

Amid raging wildfires in the rainforest, France’s president has threatened not to approve the Mercosur trade agreement as long as Brazil doesn’t live up to commitments to tackle climate change. Norway has also found itself at odds with Brazil, as the Nordic country and Germany froze millions of dollars for a preservation fund for the Amazon because they said the agreement had been broken.

Read entire article HERE.

Bloomberg: Oil Divestment List for Norway’s $1 Trillion Fund Isn’t Final

Figuring out exactly which oil companies Norway is targeting for divestment wasn’t easy last week when the government made its historic announcement. It turns out no one knows precisely yet.

After revealing it would allow its $1 trillion wealth fund to sell out of $7.5 billion in upstream oil and gas companies, the government disseminated two separate lists of potential targets: one with 134 companies and one with 150 companies.

The lists also included many refiners and petrochemical groups and would be at odds with the decision to only exclude “upstream” companies. The government now concedes that the actual work to single out divestments remains to be done

Read entire article HERE.