Norway's oil fund to debate stopping all fossil-fuel investments.

FT: “Norway is to debate whether the world’s largest sovereign wealth fund – funded by petroleum revenues – should stop investing in oil, gas and coal companies.”
“The two governing centre-right parties and two of their allies have agreed to set up an expert group to look into the $840bn oil fund’s investments in fossil fuels and report back in a year’s time.
Any decision to stop investing in fossil fuel-related companies would send shockwaves through markets where the oil fund’s actions are closely followed.
Oil and gas companies represent 8.4 per cent of the fund’s equity investments, or about $44bn, according to its annual report. Three of its top 10 holdings are in oil companies: Royal Dutch ShellBG Group, and BP.
The debate over fossil fuel investments started when the opposition Labour party proposed last autumn that the oil fund exit all its coal investments, despite the fact that Norway runs several coal mines.
The ruling Conservative and Progress parties – together with their allies in parliament, the Liberals and Christian Democrats – headed off that threat early on Friday morning by agreeing to set up the expert group.
….The oil fund was set up to channel Norway’s oil and gas revenues into long-term investments that would benefit future generations. Its assets have increased fivefold in the past decade and it has become one of the world’s most closely watched investors, owning 1.3 per cent on average of every listed company. But as it has grown in size it has become an attractive target for politicians.”