Norway's $900 bln fund drops 10 more companies with links to coal (updated)

HK Electric Investments

07/03/2017 12:04

(Adds more detail) 
    OSLO, March 7 (Reuters) - Norway's central bank, which 
manages the country's $900 billion wealth fund, has excluded 
another 10 companies from its investment portfolio because they 
use or produce coal, it said on Tuesday. 
    The fund is the world's biggest sovereign wealth fund, 
owning 1.3 percent of all listed company shares globally. As of 
the end of 2016, it owned shares in nearly 9,000 firms. 
    Norway's parliament decided in 2015 that the fund would sell 
holdings in companies that derive more than 30 percent of their 
turnover or activity from coal because it is a big contributer 
to climate change and air pollution. 
    The ten companies excluded on Tuesday are: CEZ  CEZP.PR , 
Eneva  ENEV3.SA , Great River Energy  GREGY.UL , HK Electric 
Investments  2638.HK , Huidan Energy, Korea Electric Corp 
 015760.KS , Malakoff Corp  MALA.KL , Otter Tail Corp    
 OTTR.O , PGE  PGE.WA  and SDIC Power Holdings  600886.SS . 
    The central bank also said it had put two companies under 
observation for potential exclusion in the future. These are 
NorthWestern Corp  NWE.N  and Portland General Electric POR.N . 
    After Tuesday's announcement, the fund has excluded 69 
companies and placed 13 companies under observation for their 
use of coal, it said. 
     
 
 (Reporting by Gwladys Fouche, editing by Nerijus Adomaitis and 
Jane Merriman) 
 ((gwladys.fouche@tr.com; +47 23 31 65 94; Reuters Messaging: 
gwladys.fouche.reuters.com@reuters.net; Twitter handle: 
@gfouche)) 
 
Keywords: NORWAY SWF/