Norwegian state fund in $4bn green push

Norway’s $400bn sovereign wealth fund, the world’s second largest, has overhauled its investment strategy to increase its exposure to environmentally responsible companies in an effort to combat climate change.

The Norwegian Government Pension Fund has directed about 1 per cent of its funds, or $4bn, into “green shares” targeting investments in the developing world, the Norwegian government said on Monday.

The change in investment strategy was agreed earlier this year, officials said.

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