Norway fund blacklists more coal groups over climate concerns
Oslo — Norway’s sovereign wealth fund, the world’s largest, has barred 15 more companies linked to coal operations, most of them American and Asian, the Norwegian central bank said on Wednesday. Norway’s parliament voted in June 2015 to pull the fund out of coal, requiring it to sell its holdings in mining and power companies that generate more than 30% of their output or revenue from the polluting fossil fuel, due to its environmental impact. Currently worth about 7.53-trillion kroner ($869.3bn), the fund first barred 52 companies and subsidiaries in April, most of them from the US and China, such as China Coal Energy, AES, and Peabody Energy, the biggest US coal producer. On Wednesday it added 15 more companies and subsidiaries to the list, including five from the US, three from Japan and two from China.
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