Institutional Investor visited Norway to write a story about the management of the country’s USD 1 trillion sovereign wealth fund. One of the experts interviewed was Terje Osmundsen, Empower’s founder and CEO.
“It's not enough to say that you're not going to invest in fossil fuels… They (the Oil Fund) need to invest in renewables to avoid the scenario of 3- to 4-degree [Celsius] heating in the middle of the century” he says.
You can read the whole story - The World’s Largest Allocator Decided to Abandon Oil. Then the Problems Started - here.