Norway

IEEFA Research

IEEFA Update: Norway Shows What to Do With Fading Oil and Gas Holdings

IEEFA Update: Norway Shows What to Do With Fading Oil and Gas Holdings

A Marquee Global Fund Sees Too Much Risk in Not Divesting

In recommending last week that oil stocks be excluded from its equity benchmark index, Norges Bank, the Norwegian Government Pension Fund Global (GPFG) manager, has moved oil stocks from a mainstream investment to a speculative grade risk. If Norway’s Finance Ministry and Parliament agree, GPFG will still invest in oil and gas stocks, but under […]

November 22, 2017 Read More →
IEEFA Report: Renewable Energy Opportunity Now for Norway’s $976 Billion Pension Fund as Global Institutional Capital Migrates Out of Fossil Fuels

IEEFA Report: Renewable Energy Opportunity Now for Norway’s $976 Billion Pension Fund as Global Institutional Capital Migrates Out of Fossil Fuels

35% of Assets Reallocated Can Go Into High-Growth Sector; Risks Can Be Responsibly Managed; Possibilities Include Stocks, Index Funds and Infrastructure

Aug. 30, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published a report urging Norway to allocate more of its Government Pension Fund Global (GPFG) assets to the fast-growing global renewable energy market. The report — “How Renewable Energy Holdings Can Contribute to the Growth of Norway’s Pension Fund in […]

August 30, 2017 Read More →
IEEFA Norway: Why the World’s Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure

IEEFA Norway: Why the World’s Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure

The Sector is Growing, Returns Are Reliable, the Outlook is Positive

We published a report this morning that highlights how Norway is at a historic crossroads in how it manages some of its vast national wealth bound up in the Government Pension Fund Global (GPFG). Indeed, GPFG is facing an unusually opportune moment this summer, as Parliament considers whether to enact a mandate that would have […]

Coal Industry Arguably ‘Poorest-Performing Sector’ in Global Economy: New IEEFA Analysis

Coal Industry Arguably ‘Poorest-Performing Sector’ in Global Economy: New IEEFA Analysis

A ‘clear, effective and achievable’ mandate by Norway's Parliament is seen as the most effective way to limit losses from an energy sector in deep decline; Fiduciary duties are emphasized; Industry’s growing opposition to climate science is noted

CLEVELAND, May 18, 2015 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) today urged the Norwegian Government Pension Fund Global (GPFG) to reduce its exposure to fossil-fuel risk by divesting more of its coal-related holdings. A new IEEFA report, “The Case for Divesting Coal from the Norwegian Government Pension Fund Global,” presents […]

May 17, 2015 Read More →
Case for Divesting Coal from the Norwegian Government Pension Fund Global

Case for Divesting Coal from the Norwegian Government Pension Fund Global

Case for Divesting Coal from the Norwegian Government Pension Fund Global By Tom Sanzillo, Director of Finance, Institute for Energy Economics and Financial Analysis View in Norwegian.

More News and Commentary

Norwegian insurer plans total coal exit by 2026

Bloomberg: The biggest publicly traded life insurer in Norway, Storebrand ASA, is planning a total exit from coal by 2026. They’re one of a widening field of investors withdrawing from the most polluting fossil fuels as the threat of climate change reshapes asset management. The asset manager has already excluded 64 companies with ties to […]

November 30, 2018 Read More →

Norway’s Equinor continues renewables expansion, ups stake in solar company

Reuters: Norway’s Equinor has bought a 9.7 percent stake in renewable energy producer Scatec Solar, raising its ownership to 10 percent, the state-controlled energy firm said on Thursday. “The investment in Scatec Solar will increase Equinor’s exposure to a fast growing renewable sector, further complementing Equinor’s portfolio with profitable solar energy,” Equinor said in a […]

November 15, 2018 Read More →

Norway wealth fund develops software program to analyze climate investment risk

Reuters: Norway’s $975 billion wealth fund, the world’s largest, wants to know how much of a company’s carbon dioxide emission costs can be passed on to customers. The fund holds 1.4 percent of all globally listed shares, representing 9,000 companies, so a lot is at stake for the fund as it considers how to allocate […]

October 31, 2018 Read More →

Norwegian pension fund calls on RWE to stop lignite expansion

Associated Press: A Norwegian pension fund is doubling down on its criticism of German utility firm RWE over the power company’s long-term plans to use coal. The chief executive of Storebrand, Jan Erik Saugestad, said Thursday that “continued expansion of coal mines and support of coal-fired power has no future” if the world wants to […]

October 26, 2018 Read More →
IEEFA update: Divestment 101
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IEEFA update: Divestment 101

A 10-point FAQ primer on a new mindset around energy sector holdings

The fast-moving evolution of the energy sector is changing investor minds and altering capital market flows. This shift raises as many questions about where things are going as it does about the status quo. A report we published earlier this summer—“The Financial Case for Fossil Fuel Divestment”—takes a stab at addressing the topic practically and […]

Research finds fossil fuel divestment not a drag on investment returns

Quartz: Norway built a $1 trillion sovereign wealth fund on oil and gas revenues. Last year, however, the country’s central bank recommended that the fund divest the $35 billion worth of stocks it held in oil and gas companies like Shell, Total, BP, Chevron, and ExxonMobil. The move would make “the government’s wealth less vulnerable […]

August 29, 2018 Read More →

Equinor considers offshore wind to power oil rigs

Reuters: Norway’s Equinor said on Tuesday it is considering whether to build a pioneering offshore wind farm with floating turbines to supply electricity to two North Sea oilfields as part of a strategy to curb greenhouse gas emissions. The project at the Gullfaks and Snorre oilfields would cost around 5 billion Norwegian crowns ($592 million) […]

August 28, 2018 Read More →

Decision looming for Norway fund’s future oil, gas investments

Reuters: Norway’s trillion-dollar sovereign wealth fund should continue to invest in oil and gas companies, a government-appointed commission recommended on Friday, contradicting earlier advice from the central bank, and boosting the shares of oil firms. A decision on whether to drop energy shares from the fund’s benchmark index, and thus divest tens of billions of […]

August 24, 2018 Read More →

Norway’s Statkraft looks to ‘ramp up’ its solar, wind development efforts

Recharge News: Norwegian utility Statkraft has unveiled a revised strategy that will see it “significantly ramp up as a wind and solar developer” with ambitions in Europe, India and South America. The group will also look for new business opportunities in renewables and decarbonisation in Norway and beyond, as the hydro-focused group seeks to combine […]

July 19, 2018 Read More →

Norway Sovereign Wealth Fund Moves Toward Investing in Renewables Infrastructure

Reuters: Norway’s $1 trillion sovereign wealth fund should be allowed to invest in unlisted renewable projects such as solar parks and wind farms, the ruling Conservative party voted on Saturday. The world’s largest sovereign wealth fund, which invests Norway’s oil and gas revenues in stocks, bonds and real estate, has for many years sought permission […]

April 9, 2018 Read More →