Norway votes to sell coal assets of its sovereign wealth fund
Norway's parliament
Oslo - Arab Today
Norway's parliament voted Friday to sell the coal assets of its state pension fund, the world's largest sovereign wealth fund, in what is seen as a major victory for environmentalists.
The parliament voted unanimously that the fund -- worth almost 7,000 billion kroner (793 billion euros, $890 billion) and which controls the equivalent of 1.3 percent of world market capitalisation -- must divest its holdings in mining and power companies that generate more than 30 percent of their output or revenues from coal.
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