Norway’s $1tn sovereign wealth fund, the largest in the world, is to place pressure on companies in which it invests to follow stricter rules on sustainability and ocean plastic pollution. The fund may divest from firms that do not address sustainability in line with United Nations’ targets. It also issued a separate ocean sustainability “expectation document”, which could affect companies from sectors including aquaculture, fishing, retail, plastics production and shipping, representing about 8 percent of its global equities portfolio, with a combined value of $56.5bn. The sovereign fund has $25.01bn invested in plastic producers.
Norway’s $1tn sovereign wealth fund, the largest in the world, is to place pressure on companies in which it invests to follow stricter rules on sustainability and ocean plastic pollution. The fund may divest from firms that do not address sustainability in line with United Nations’ targets. It also issued a separate ocean sustainability “expectation document”, which could affect companies from sectors including aquaculture, fishing, retail, plastics production and shipping, representing 8% of its global equities portfolio, with a combined value of $56.5bn. The sovereign fund has $25.01bn invested in plastic producers.