Norway Divests from Coal Polluting Investment

Norway Divests World's Biggest State Pension Plan away from Coal Polluting Investment

Norway Divests World’s Biggest State Pension Plan away from Coal Polluting Investment

     Norway has the world’s biggest state pension fund— $900 billion. More than $500 million of this is now divested from Duke Energy and three subsidiaries, over the utility’s history of irresponsible waste-handling from its coal-fired power plants. Duke responded to the Norway fund manager Norges Bank’s decision, citing its planned efforts to seal or remove ash basins, but the court-ordered response plan will not be fully implemented for 10-15 years. Meanwhile, the damages from its 2014 Dan River spill into a North Carolina waterway from a closed Duke coal plant have caused estimated damages over $300 million.

Waterkeeper Alliance’s Donna Lisenby says she is “thrilled that the Council on Ethics [Norges Bank] determined that Duke Energy’s leaking ash ponds warranted a special divestiture.”

To read more about this from the Take Part article, click here or call us if you’d like a printed copy. If you want to review your own investments, or learn more about divesting from fossil- fuel energy, please call 315-637-5153 or email info@hansensadvisory.com, to schedule an appointment.

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