NGOs release Damning Report on Norwegian Government Pension Fund’s Coal Investments The report “Dirty & Dangerous” takes a
deep look into the coal portfolio of the world’s largest sovereign wealth fund,
the Norwegian Government Pension Fund Global (GPF). The report launches at a
public event in the Norwegian Parliament today (10 am. CET) and comes in the
midst of a political debate in Norway around a possible divestment of the
Government Pension Fund (GPF) from the coal sector.
The report reveals that the Pension Fund’s
holdings in the coal industry are much larger than previously acknowledged.
According to the NGOs’ research, the GPF holds assets of over NOK 82.2 billion (€ 9.7 billion) in the
coal sector, of which NOK 68.7 billion are in the form of shares and NOK 13.5
billion are held in bonds. In January of this year, the Pension Fund’s manager,
Norges Bank Investment Management (NBIM), announced that the GPF’s ownership in
coal miners amounts to only NOK 2.5 billion (€ 296 million).