Norwegian pension fund KLP divests from oil sands firms

On the 10.08.19 at 7:39AM


Tuba Raqshan

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.

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