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.”
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