Experiments with Truth: News

Fossil fuel divestments strengthen renewables movement

Storebrand, a major Norwegian pension fund and life insurance firm, has announced it has divested from 19 fossil fuel companies.

Announcing the move, the group’s head of sustainable investment, Christine Tørklep Meisingset, said it had gone down the divestment route to “reduce fossil fuel and CO2 [carbon dioxide] exposure and ensure long-term stable returns” for its members—as these stocks, it says, will be “worthless financially” in the future.

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