Re-posting; this regards arguably the "most green" country in the world.
Norway: rocky road ahead for Norway's $1.2 trillion wealth fund:
- Norway ordered the fund to first freeze and then divest its Russian assets, worth some 27 billion crowns ($2.85 billion) and equivalent to 0.2% of its total value at the end of 2021, after Moscow began its “special military operation” in Ukraine.However, the fund has not yet begun selling,
- fund manager said, adding that he did not know when this would be possible as the Moscow market was not functioning well with traded volumes not large enough for its needs.
- remember all those stories that this wealth fund was going to dump oil stocks; go "all" green? Look at this:
- the fund took its first ever direct stake in a renewable energy project, a Dutch wind farm, in April last year, but has not done so since.
- even though the fund has a mandate from parliament to invest up to
2% of its total value in renewables, it would take some time as
competition was fierce and “good prospects (are) hard to find”
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