Kevin Grandia's blog

Norway's Oil Wealth Fund Drops Coal From Investment Portfolio

Norway's finance committee has passed a motion instructing the country's $900 billion Sovereign Wealth Fund to divest of any company with large holdings of coal as their revenues.

A statement by the finance committee resolves that: "Investing in coal companies poses both a climate risk and a future economic risk."

According to the Wall Street Journal:

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Peabody Energy and CEO Greg Boyce's Long History of Climate Denial

When it comes to climate denier coal executives, there is none more outspoken than Peabody Energy CEO Greg Boyce, who recently reiterated his belief that climate change is, "an environmental crisis predicted by flawed computer models."

Boyce made the "flawed" comment in the roll-out of Peabody's "five point plan" — which is more a grumpy rejoinder to a world keen on replacing coal with renewable energy, than an actual plan.  

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