Sovereign investors tweaking portfolios for environmental risk
Norway, NZ, France leading the way as Paris climate agreement adds to pressure on investors
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SOME sovereign investors are reducing their exposure to fossil fuels or seeking clean alternatives to protect their portfolios from rising environmental risk.
Norway's US$900 billion sovereign wealth fund (SWF) - itself financed by oil sales - and the New Zealand Super Fund (NZSF) are among those adjusting investments in anticipation of tougher environmental rules or damage from the impact of global warming.
