After revealing it wants to dump all oil stocks in a market-shattering bang in 2017, Norway’s $1.1 trillion wealth fund’s actual divestment could now be so small it hardly matters.
Norway sovereign wealth fund
Norway is moving closer to deciding whether its $1 trillion wealth fund will dump all its oil and gas stocks.
A North Sea wealth fund for the UK would be worth over £500billion today had it been established in the 1980s, according to a think tank.
Norges Bank announced today that it has taken the decision to exclude nine companies from the $1.07 trillion Government Pension Fund, also putting one firm “under observation”.
Norway’s sovereign wealth fund, the world’s largest of its kind, has hit a milestone value of one trillion US dollars, beating all expectations since its creation over 20 years ago.