Norwegian Pension (GPFG)

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 […]

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

IEEFA update: Norway’s recognition of a declining oil and gas sector sends a message

Early warnings of long-term economic and fiscal downturn require action now

The government of Norway has identified a problem that will preoccupy it for the next fifty years, and that should also cause the rest of the world to sit up and pay attention. THE PROBLEM:  The revenues and dividends from Norway’s vast oil and gas holdings that have fueled the country’s economy and balanced its […]

December 21, 2018 Read More →

IEEFA update: Norway moves to invest in unlisted renewable energy

When the world’s biggest fund speaks, the markets listen

Norway’s pension fund, the Government Pension Fund Global (GPFG), has launched a modest investment initiative in unlisted renewable energy infrastructure. And the truth is, when GPFG, the world’s largest sovereign wealth fund, makes a modest investment, it is anything but modest. GPFG, worth more than $1 trillion, has historically strayed only infrequently from a conservative […]

December 17, 2018 Read More →

Norwegian wealth fund continues long-term push for sustainable investments

Financial Times ($): It is not perhaps the most obvious idea for an investor that derives all its inflows from oil and gas revenues to prioritise sustainability. But Norway’s $1tn oil fund has been different from the beginning. One of the few sovereign wealth funds in a democracy, the Norwegian fund has put ethical issues […]

December 6, 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 →

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 →

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 sovereign funds dumps coal-heavy PacifiCorp bonds

S&P Global Market Intelligence ($): Norway’s central bank, which manages the country’s $1 trillion sovereign wealth fund, has sold its holdings of bonds issued by PacifiCorp, a U.S. utility owned by Warren Buffett, in its latest round of ethical and environmental divestitures. Norges Bank said it has excluded PacifiCorp from the portfolio of the Government […]

July 11, 2018 Read More →

Norwegian Wealth Fund Considers Further Emissions-Related Divestments

Reuters: The ethics watchdog for Norway’s $1-trillion sovereign wealth may blacklist more companies that produce too much greenhouse gas by scrutinizing more industry sectors, including shipping and power. Carbon emissions became a criteria for exclusion from the fund in 2016 and last year the watchdog recommended that “a small handful” of firms be excluded from […]

March 8, 2018 Read More →
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 →