Norwegian pension fund KLP divests from oil sands firms
On the 10.08.19 at 7:39AM
KLP, Norway’s largest pension fund with more than $81bn assets under management, divests from companies that derive more than five percent of their revenue from oil sands-based operations.
KLP will exclude Cenovus Energy, Suncor Energy, Imperial Oil (69.6% ownership by ExxonMobil), Husky Energy and Tatneft PAO, valued at over NOK 305m (US$33m). The divestment includes an additional NOK229m (US$25m) in bonds.