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Norwegian pension fund to divest from coal
http://www.dw.de/norwegian-pension-fund-to-divest-from-coal/a-18484540The Norwegian parliament has decided to pull out of investments in the coal sector. Environmental campaigners say this will have a major impact, but still seek closure of potential loopholes.
Norwegian pension fund to divest from coal
29.05.2015
The Norwegian parliament's finance committee announced on Thursday that it intends to divest the country's sovereign wealth fund from the coal industry.
Environmental groups have welcomed the Norwegian parliament's decision, saying it shows how lawmakers have responded to public pressure in the global fight against climate change.
"This is very important and will send a very strong signal to coal burning and mining companies all over the world," Truls Gulowsen, head of Greenpeace Norway told DW. "The fund is one of the world's top 10 largest investors in the global coal industry, so this will have a real impact."
Greenpeace estimates that new regulations would result in around $5 billion (4.6 billion euros) being pulled out of the coal sector.