Norway’s $1-trillion sovereign wealth fund may have to sell its $1-billion stake in commodities giant Glencore, among other companies that derive more than 30% of their revenue from coal, to meet proposed tighter ethical investing rules.
Under the centre-right government’s plan, expected to be adopted by Norway’s parliament on Wednesday, the world’s largest fund would no longer invest in companies that mine more than 20-million tonnes of coal annually or generate more than 10 GW of power with coal.