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Norway wealth fund excludes 15 coal related firms, more to follow
December 21, 2016 / 9:04 AM / a year ago

Norway wealth fund excludes 15 coal related firms, more to follow

OSLO, Dec 21 (Reuters) - Norway’s central bank, which manages the country’s $869 billion wealth fund, has excluded an additional 15 companies from its portfolio due to their use or production of coal, and plans further exclusions next year, it said on Wednesday.

The world’s largest sovereign wealth fund also placed 11 firms under observation for potential future exclusion.

The fund removes companies from its portfolio based on a range of criteria, including the production of tobacco, nuclear arms and products that can contribute to climate change.

In total, Norges Bank has so far excluded 59 companies and placed 11 companies under observation under its so-called product-based coal criterion.

A full list of the firms excluded on Wednesday can be seen here: bit.ly/2hSASKg (Reporting by Terje Solsvik, editing by Alister Doyle)

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