{"id":7068,"date":"2014-12-03T16:57:23","date_gmt":"2014-12-03T16:57:23","guid":{"rendered":"http:\/\/gofossilfree.org\/?p=7068"},"modified":"2014-12-04T09:06:44","modified_gmt":"2014-12-04T09:06:44","slug":"hey-norway-heres-a-top-200-cheat-sheet","status":"publish","type":"post","link":"https:\/\/gofossilfree.org\/divestment\/hey-norway-heres-a-top-200-cheat-sheet\/","title":{"rendered":"Hey Norway, here\u2019s a top 200 cheat sheet"},"content":{"rendered":"

\"Framtiden<\/a>An expert panel commissioned by the Norwegian government recommended the country\u2019s sovereign wealth fund – also known as the oil fund – should add a new criterion to its investment guidelines: \u2018contribution to climate change\u2019.<\/p>\n

The report<\/a> falls short of recommending divestment from fossil fuels and favours \u2018active ownership and engagement\u2019. The group proposes that the oil fund should become a more \u2018active and engaged investor on climate matters\u2019 and exclude investments in companies that are \u2018severely harmful to the climate\u2019 on a case-by-case basis.<\/p>\n

This list of the top 200 companies with the biggest fossil fuel reserves<\/a> will come in handy for the assessment of the harmfulness of a company. Eighty percent of these companies\u2019 fossil fuel reserves are unburnable to limit global warming below 2 degree.<\/p>\n

According to an analysis by WWF, Norway\u2019s $870bn fund – the world\u2019s largest sovereign wealth investor – invests in 147 of these 200 companies<\/a>. That\u2019s the equivalent of 108 times the country\u2019s greenhouse gas emissions.<\/p>\n

If the fund believes that it can influence these companies through \u2018active ownership\u2019 to stop looking for new carbon and leave 80 percent of their current reserves underground, they need to put forward a clear strategy and timeline on how they are planning to achieve that. Failing that, the fund is doing nothing but actively funding climate wreckage.<\/p>\n

As Bill McKibben said in a statement today, engagement proponents have a lot to prove:<\/p>\n

\u201cWe’ve watched with interest for the last two years as some of those who said they weren’t ready to divest have instead promised to ‘engage’ with the fossil fuel industry. So far that engagement has yielded ringing promises from the biggest oil companies that they will indeed dig up and burn all their reserves and look for more. The learning curve gets more obvious every day–and the conclusion of the Rockefeller Brothers Fund, that this is an unreformable industry with whom we must break ties, seems more and more obvious.\u201d<\/i><\/p><\/blockquote>\n

The report is expected to be met with opposition in parliament. The majority of Parliamentarians – backed by public opinion in Norway – is that coal must be banned from the oil fund\u2019s investments.<\/p>\n

A recent report by Framtiden, Greenpeace Nordic and Urgewald revealed<\/a> that the oil fund\u2019s investments in coal are much higher than previously acknowledged: NOK 82.2bn (\u20ac9.7bn) instead of the fund manager\u2019s claim of just NOK 2.5bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

An expert panel commissioned by the Norwegian government recommended the country\u2019s sovereign wealth fund – also known as the oil…<\/span><\/p>\n","protected":false},"author":73,"featured_media":5807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[134,53],"tags":[209,101],"class_list":["post-7068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-divestment-2","category-norway","tag-norway","tag-oil-fund"],"acf":[],"_links":{"self":[{"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/posts\/7068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/users\/73"}],"replies":[{"embeddable":true,"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/comments?post=7068"}],"version-history":[{"count":0,"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/posts\/7068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/media\/5807"}],"wp:attachment":[{"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/media?parent=7068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/categories?post=7068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gofossilfree.org\/divestment\/wp-json\/wp\/v2\/tags?post=7068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}