The largest sovereign wealth fund on the planet, Norway, announced this Tuesday (20) that it will require carbon neutrality by 2050 of the 9,000 companies worldwide in which it has stakes.
“We have set a goal of net zero emissions by 2050 at the latest for all companies,” Carine Smith Ihenacho, the fund’s director of governance, said in a statement.
“We will engage with companies to achieve this goal, setting credible preliminary targets and implementing plans to reduce direct and indirect greenhouse gas emissions,” added the director of the Norwegian sovereign wealth fund.
The sovereign wealth fund is fed, paradoxically, by the Norwegian state’s oil revenues and currently has a capital of 12 billion crowns (R$ 6.1 billion). The fund has invested in more than 9,000 companies spread across 70 countries
It has the equivalent of 1.3% of the world’s stock market capitalization, in addition to investments in securities and projects in sectors such as civil construction or renewable energy, among others.
With the new plan, the sovereign wealth fund is in line with a decision taken by the Norwegian parliament, which this year set a carbon neutrality target by 2050.
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