The world’s largest sovereign wealth fund, Norway’s $1.4 trillion Government Pension Fund Global (GPFG), should ask from the companies it is invested in when it comes to reaching their 2050 net-zero emissions goals, a government panel said this week. The fund said that oil firms in its portfolio need to cut their emissions more drastically. Norway is one of Europe’s richest countries thanks to the decades of oil revenues amassed in the world’s largest sovereign wealth fund with US$1.4 trillion in assets and holdings of 1.4 percent of all of the world’s listed companies, including stakes in oil majors Exxon, Chevron, Shell, and BP. This week, a report from an expert group appointed by Norway’s Ministry of Finance recommended that the work on climate risk be anchored in the fund’s mandate, under which Norges Bank’s “responsible investment is based on an overall long-term goal of zero emissions from the […]