Norwegian Pension (GPFG)

IEEFA Research

IEEFA update: Norway’s GPFG sovereign fund to invest up to $14bn in unlisted renewables

IEEFA finance director says it is “good for the fund and the planet.”

NEW YORK, April 5, 2019 (IEEFA) — Norway’s decision today to allow the Government Pension Fund Global (GPFG) to invest in unlisted renewable energy infrastructure represents a significant step by the world’s largest (US$ 1 trillion) pension fund, according to the Institute for Energy Economics and Financial Analysis (IEEFA). The policy change will be presented for […]

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 […]

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 […]

and February 22, 2017 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

IEEFA: After a terrible 2020, the oil industry’s story has turned political
and

IEEFA: After a terrible 2020, the oil industry’s story has turned political

For 2021, expect conflict and infighting to further muddy the industry’s prospects

It was a dismal year for oil and gas. As the pandemic sucked the wind from the sails of the global economy, oil demand slumped, stockpiles swelled, prices sagged, capital spending collapsed, debt ballooned, profits evaporated, and bankruptcies skyrocketed. After this torrent of bad news, the energy sector ended the year in last place in […]

Norway’s investment fund withdraws coal-related holdings, puts others on notice

Reuters: Norway’s $1 trillion wealth fund is excluding some of the world’s biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also excluding German utility RWE, South African petrochemicals firm Sasol and […]

May 13, 2020 Read More →
IEEFA update: Norway’s 2020 budget signals hard choices ahead
and

IEEFA update: Norway’s 2020 budget signals hard choices ahead

Facing the impact of diminishing fossil fuel revenues in a time of climate change

Long-term low oil prices and competition from other countries and technologies have driven the Norwegian government, heavily dependent on its large state-owned oil and gas producer, to acknowledge a permanent profit squeeze. Twenty-six percent of the country’s annual budget revenues and 17 percent of its GDP are tied to the oil and gas market. The […]

and December 6, 2019 Read More →

Australia’s South32 in talks to exit thermal coal business in South Africa

Reuters: Australian miner South32 Ltd reported a bigger-than-expected 25% drop in annual profit as the trade war between China and the United States hurt aluminum prices, sending its shares lower by as much as 5.8% on Thursday. South32 also said it was in talks to sell its South Africa thermal coal business to Johannesburg-based Seriti […]

August 22, 2019 Read More →

IEEFA update: Norway’s GPFG sovereign fund to invest up to $14bn in unlisted renewables

IEEFA finance director says it is “good for the fund and the planet.”

NEW YORK, April 5, 2019 (IEEFA) — Norway’s decision today to allow the Government Pension Fund Global (GPFG) to invest in unlisted renewable energy infrastructure represents a significant step by the world’s largest (US$ 1 trillion) pension fund, according to the Institute for Energy Economics and Financial Analysis (IEEFA). The policy change will be presented for […]

Norway tightens coal investment rules, expands renewable options for sovereign wealth fund

Bloomberg: Norway plans to tighten restrictions on coal investments for its $1 trillion sovereign wealth fund while opening it up for renewable-energy infrastructure assets. The government proposes to expand its coal ban by adding absolute caps on production of thermal coal, or its use in power generation, which would target big companies such as Glencore […]

April 5, 2019 Read More →

Middle East sovereign wealth funds investing in green energy, but fossil divestment seen as unlikely

Reuters: Sovereign wealth funds from oil-rich countries in the Middle East are moving to diversify into renewable energy, pushed by regulators and pledges on climate change, but are stopping short of following Norway in shedding some oil and gas investments. Total sovereign wealth fund investments within the oil and gas industry have dwarfed those within […]

April 1, 2019 Read More →

Experts say Norwegian pension investment decision could affect India’s oil and gas sector

Livemint: The decision of the world’s largest sovereign wealth fund to stop investing in oil and gas explorers globally may affect Indian companies, such as Reliance Industries Ltd, Oil and Natural Gas Corp. Ltd, Indian Oil Corp. Ltd (IOC) and Oil India Ltd, where the $1 trillion fund has made investments. The decision of Norway’s […]

March 13, 2019 Read More →

Shell sets goal of becoming world’s largest power company

Bloomberg: Royal Dutch Shell Plc plans to become the world’s biggest power company within 15 years, a move that suggests it sees climate change as a bigger threat to its business than electricity’s historically weak returns. The world’s No. 2 oil explorer by market value is spending as much as $2 billion a year on […]

March 12, 2019 Read More →

Norway’s investment decision puts oil and gas industry on notice

Financial Times ($): Norway’s sovereign wealth fund may have spared the majors when announcing it was pulling investments from a host of oil and gas producers, but the move will still reverberate in the boardrooms of energy heavyweights like BP and ExxonMobil. With $1tn under management, the Norwegian oil fund is the world’s biggest sovereign […]

March 11, 2019 Read More →