Solberg to up oil fund’s green tech holdings
Norway’s Prime Minister Erna Solberg has said that she plans to plough more of the country’s oil money into renewable energy investments, using its vast $840bn oil fund to help combat climate change.
“This is an important contribution to a shift to greener growth, and to reduce global CO2 emissions,” Solberg said on Thursday, according to the Wall Street Journal, confirming that she would “expand the mandate,” of the fund to include fighting global warming.
The government will not give details of how much investment will go into green technologies until April 4.
Solberg has not yet thrown her wight behind a proposal by the two minority party’s supporting her coalition to stop the fund investing in fossil fuel producing companies.
Roughly 10 percent of the fund’s investments are in coal, oil, and gas producers.
Source: The Local