largest national pension fund
Norway’s Global Pension Fund is the largest of its kind in the world — it’s worth a huge US$867bn. With great (financial) power, come great (moral) responsibilities.
The fund has already divested from individual fossil fuel companies in the past but, with a crucial Norwegian parliamentary hearing coming up on May 4th, it has a real opportunity to become the biggest to divest from coal altogether.
With enough pressure from outside of Norway this could be the biggest amount of money ever divested from fossil fuels by a single institution. If enough of us make our voices heard, it could send a strong signal that the writing is on the wall for the fossil fuel industry, and that it’s time to end coal once and for all.
On May 4th the Finance Committee of the Norwegian parliament will start debating the investment policy of the country’s public pension fund. We already have some allies in parliament, and with your voice and the voices of frontline communities who are fighting coal from India to Poland, from Australia to the Philippines, we can get a strong group of political parties to back our demands.
Norway has built its huge wealth off its oil and gas revenues for decades, but now it’s also a leader in renewable energy, producing more than its entire energy needs last year. It’s time for Norway to get its investments in order too.