The nation will be "less vulnerable" to a drop in oil by not being invested in stocks of companies in the industry, the Oslo-based fund said Thursday.
"It is not surprising that we see the world's largest sovereign wealth fund managers no longer prepared to take the increasing risk associated with oil and gas assets, which do not have a long-term future", said Paul Fisher of the Cambridge Institute for Sustainability Leadership, in an interview with the Guardian.
"There is a substantial difference.in return between the oil and gas sector and the broad stock market in periods when the oil price changes substantially".
The bank did not set a deadline for when the fund should drop its oil and gas holdings.
According to Norges Bank, their analysis of the oil price risk in Norway's overall wealth fund risk was based on future oil and gas revenues, and its direct holdings in Statoil and the GPFG. The government, which also controls Statoil ASA and offshore oil and gas fields, was forced to withdrew cash from the fund for the first time past year to meet spending commitments after oil prices dropped.
Escaped Mental Patient From Hawaii Arrested In Stockton In 1979, Saito brutally shot and repeatedly stabbed Sandra Yamashiro before dumping her corpse in a mall parking lot. It's not clear under what circumstances Randall Saito was away from the facility in a Honolulu suburb.
The plan would entail the fund, which controls about 1.5% of global stocks, dumping as much as $40 billion of shares in worldwide giants such as Exxon Mobil Corp. and Royal Dutch Shell.
The fund could still invest in the sector if other parts of the fund's mandate are fulfilled by having some investments in some of the companies, Matsen said.
Nicolò Wojewoda of 350.org Europe was also hopeful about the implications of Norges Bank's decision, calling it "yet another nail in the coffin of the coal, oil, and gas industry".
The fund has grown so large that even though the Norwegian state is taking less than 3 per cent of the fund's value every year for its fiscal budget in recent years, oil spending now accounts for one in five crowns spent by the state. Green campaigners also welcomed the news.
However, ethical investment experts hailed Norges' retreat from fossil fuels.
Newly discovered Earth-like planet could support life When the ELT comes online, "It shall provide both the collecting power and the angular resolution to observe Ross 128 b directly". But Ross 128 is rather quiet , suggesting conditions on Ross 128b are potentially peaceful enough for life to emerge.
"But clearly the direction is that. if the ministry and the politicians think it is good advice and they say yes to it, clearly the investments in the oil and gas sector will decrease over time", he added. "The straight answer is that all other sectors would be weighted up in proportion".
The former Georgia congressman resigned September 29 over a scandal involving his use of private aircraft for government business. But several Democratic lawmakers questioned whether he would tackle changes that cut into pharmaceutical profits.
But past year , NASA awarded a second round of contracts , in order to cover cargo shipments to the ISS from 2019 through 2024. Sierra Nevada filed a protest, but the government's General Accounting Office upheld the decision.
Soon after Donald Trump became president, he signed memoranda to expedite the environmental review process for Keystone XL. Amherst is about 200 miles north of Sioux Falls, S.D., and about 25 miles from the state's border with North Dakota.
His earlier stint was general counsel and deputy secretary at the department in the George W Bush administration. He said Azar, whose own Twitter feed is private, would be "a star for better healthcare and lower drug prices".
UCLA will play its home opener against Central Arkansas on Wednesday night at Pauley Pavilion. " It ain't that big of a deal ". They were released on bail last week, but were told to remain in Hangzhou until the legal process was completed.
Jeff Sessions's memory works in mysterious ways. "I will not accept and reject accusations that I have ever lied under oath. Testimony before Congress has proved to be something of a thorn in Sessions's side.
Gregory Harris, commander of the Carrier Strike Group 11 in which the USS Nimitz belongs, told The Asahi Shimbun. It marks the first time that three US aircraft carriers conduct joint exercises with South Korea's Navy.
The mask was made from a combination of 2D, images, 3D printing and some makeup and it apparently cost around $150 to make. Bkav wrote in its blog post that the Face ID is "not an effective security measure" because it can be " fooled by mask".
But while most Republicans stressed that the allegations needed to be proven before Moore should step down, Sen. Marion County GOP Chair David Hall also didn't seem to think the allegations against Moore were relevant.
House to adopt mandatory anti-sexual harassment training
More than 1,500 former congressional employees have signed a petition calling on Congress to mandate anti-harassment training. They cover all harassment settlements, for things like race and age, not just for sexual offenses.
Justice League's Rotten Tomatoes Score Leaked By App
With no Rotten Tomatoes score, it was tough to determine whether the trickle of poor early reviews is a fluke or a consensus. Part of the reason many eyes are on how " Justice League " performs is because of the smashing success of " Wonder Woman ".
SA Rugby Accepts Rugby World Cup 2023 Vote Outcome
The set of rules were broken during that process, which we are upset about", he said, offering a few opaque comments of his own. France has been officially awarded the right to host Rugby World Cup 2023 ahead of Ireland and France in London on Wednesday.
OnePlus phones include an easily exploitable backdoor
Robot "-smartphones from OnePlus have for years contained a hidden backdoor that would allow root access to the device". Entering the password into the EngineerMode app provides permanent root access to the Android Debug Bridge process.
Video was morphed, says Hardik
Hardik said that The ruling party has prepared a doctored sex CD to defame me and it will be released just before the election. On Monday, a sex video allegedly featuring Hardik Patel had surfaced and was aired on local Gujarati TV channels.
Taylor Swift coming to Tampa
A pair of 2018s major concert tours Taylor Swift and Jeff Lynnes ELO - have announced August stops for downtown Detroit. Tickets start at $49.50 and go on sale Friday, Nov. 17, via 313Presents.com, Livenation.com and the box office.
Mall of America says stabbing incident 'isolated'
While the Macy's store closed early, the Mall of America stayed open and was not placed on lockdown. The reports said two people have been taken to Hennepin County Medical Center in Minneapolis .
FBI data shows 18 hate crimes logged in South Dakota in 2016
In a statement addressing the report Monday, the Anti-Defamation League focused on the overall increase in reported hate crimes. Federal Bureau of Investigation data show hate crimes increased across the country from 5,850 in 2015 to 6,121 crimes in 2016.
Italy Misses World Cup as Sweden Wins Playoff
Gian Piero Ventura will surely need to make some modifications to his lineup after such a poor performance in Stockholm. Neither team was particularly impressive in the first leg of this matchup but Italy had a very disappointing display.