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Ethical investing could create buying opportunity

lse:aal
lse:glen

#1

Norway fund may have to offload Glencore, Anglo American stakes

Norway’s $1T sovereign wealth fund may have to sell its $1B stake in commodities giant Glencore under a center-right government plan expected to be adopted today by Norway’s parliament.

The fund would also have to sell its 2.16% holding in miner Anglo American, worth $620M.

The proposed tighter ethical investing rules would prohibit investments in companies that derive more than 30% of their revenue from coal, mine more than 20M tons of coal annually or generate more than 10 GW of power with coal.