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Norges Bank: Norway and Post-Oil World

norges bank: The caveat is that this will apply only to companies that are exclusively in the business of upstream oil and gas production and some coal sector investments, according to National Observer. The GPGF is Norway's sovereign fund derived from oil industry revenues to assure Norway has a steady source of revenues in the post-oil world. In June 2019, Norway's parliament unanimously voted in favour of directing its 1.06 trillion Government Pension Global Fund GPGF the Norges Bank, to divest more than 13 billion from fossil fuels while dedicating more investments to clean technologies. Shell has expressed concern that the growing fossil fuel divestment movement could impact on the company's performance. The Business Development Bank has a minimalist allotment in Budget 2017 through to fiscal year 2021-22 for clean technologies without opportunities to Canadian citizens to enhance the BDC clean tech activity. Here in Canada, Export Development Canada has issued more than 2 billion in Green Bonds in the last half decade, however this option is only available to institutional investors. ( As reported in the news.