Norway's sovereign wealth fund will ask banks in which it has invested to disclose how their lending contributes to greenhouse gas emissions
Author: Gwladys Fouche, Thomson Reuters Foundation, Published on: 13 June 2017
Norway's $960 billion sovereign wealth fund will ask the banks in which it has invested to disclose how their lending contributes to greenhouse gas emissions, its chief executive told Reuters on Friday. The world's largest wealth fund...has in the past measured the carbon footprint of its investments in equities and bonds...The financial industry is the biggest single sector in the fund...Holdings include Credit Suisse, Deutsche Bank , HSBC, Citigroup, Wells Fargo , Barclays and Nordea, among others. In total it is invested in close to 9,000 companies worldwide...The fund, along with other investors such as BlackRock , is pushing companies to disclose both their carbon emissions and their plans to handle the risk of climate change....Britain is the fund's second-largest investment location after the United States, accounting for 9.1 percent of its portfolio at the end of 2016.