Norway’s NBIM drops first batch of coal investments

NBIM is excluding firms that rely heavily on coal for their business

Norges Bank Investment Management (NBIM) has dropped a group of companies from its portfolio because of their reliance on coal, the Norwegian sovereign wealth fund said on April 14.

A total of 52 firms were excluded after thermal coal was deemed to represent a “significant part” of their business, including both mining and energy-producing companies, with offenders cropping up all over the world. Companies using metallurgical coal – for instance, in the production of steel – were not excluded.


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