Norwegian Pension Fund To Invest $3 Billion In Cleantech

Apr 10 2009 | 1:13am ET

Norway has announced plans to invest NOK 20 billion ($3.1 billion) of its government pension fund in clean technology over the next five years.

According to Norwegian Finance Minister Kristin Halvorsen, the fund will focus on investments “that can yield indisputable benefits,” including clean energy, carbon capture and storage, waste and pollution management and energy efficiency improvement.

Particular attention will be paid to projects promoting sustainable growth in emerging economies, said Halvorsen.

The plan also includes a climate-change study in relation to financial markets.

“In the same way as the Stern Review provided important knowledge about the impact of climate change on the general economic development globally, work of a similar nature might shed light on the effect on financial markets more specifically,” said Halvorsen.

The project is the latest in a series of changes to investment criteria for the $300 billion pension fund, which has stopped backing tobacco-producing companies and evaluates corporate governance and attitudes to environmental issues when weighing potential investments.

Who is investing in clean technology?
Find out, visit our sister publication
CleanTech Brief


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.