• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours How Far Have We Really Gotten With Alternative Energy
  • 1 hour Bad news for e-cars keeps coming
  • 11 days What fool thought this was a good idea...
  • 9 days A question...
  • 14 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 14 days They pay YOU to TAKE Natural Gas
A Good Way to Play Small Cap Energy Stocks

A Good Way to Play Small Cap Energy Stocks

The Invesco Small Cap Energy…

China Threatens 25% Car Tariff Against US, EU Moves

China Threatens 25% Car Tariff Against US, EU Moves

Beijing is still mulling its…

Norway’s $1-Trillion Fund Eyes Unlisted Renewable Assets

Weeks after Norway’s government proposed that the country’s US$1-trillion fund divest from pure exploration and production oil companies, the cabinet said on Friday that it will allow the world’s biggest sovereign wealth fund to invest in unlisted renewable energy infrastructure.

“The Government is now allowing for the Government Pension Fund Global to be invested in unlisted renewable energy infrastructure. The investments shall be made within the scope of the special environment-related mandates only,” the Norwegian government said in a statement.

Norway is also doubling the upper limit on unlisted green energy investments from US$7 billion (60 billion Norwegian crowns) to US$14 billion (120 billion crowns).

“The market for renewable energy is growing rapidly. A major part of the renewable energy investment opportunities is found in the unlisted market, especially in unlisted infrastructure projects. Expectations of significant investments going forward mean that this market is of interest to institutional investors such as the Government Pension Fund Global,” according to the Norwegian government.

“We are not stipulating that the Fund shall be invested in unlisted renewable energy infrastructure, but are enabling Norges Bank to make such investments if deemed profitable,” Norway’s Finance Minister Siv Jensen said.

Related: Is This The End Of Colorado’s Shale Boom?

The world’s largest sovereign wealth fund—created three decades ago to safeguard and manage Norway’s oil wealth for future generations—made headlines last month, when the government proposed that the fund divest from oil and gas exploration companies.

The move by the Norwegian government and the fund comes at a time when investors are increasingly pressing major oil companies to start taking climate change seriously and to prepare their business portfolios for a world of peak oil demand, whenever that may come.

ADVERTISEMENT

Norway, however, claims that its decision is motivated by financial reasons, with the country aiming to cut exposure to the oil price risk. More importantly, the fund will not be divesting from any of the Big Oil firms.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News