We have long called on the finance sector to support more green investment and reduce support for environmentally harmful activities. So we welcome the decision by the Norwegian sovereign wealth fund – the world’s largest – to exclude five global coal companies from its investment portfolio.
This comes after introducing stricter environmental controls, which were developed with inputs from WWF and others. Manuel Pulgar-Vidal, who leads our global climate work, said: “The move by the Norwegian sovereign wealth fund to exclude major coal companies from their investment portfolio sends a strong signal about the need to remove all coal from our energy systems by 2050. Getting out of fossil fuels, especially coal, and scaling up clean, renewable energy is essential if we are to make meaningful progress in tackling the climate crisis.” Humanity can still escape the worst impacts of climate change, building a safer future for all. But we need to do more, and faster.