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World's biggest sovereign wealth fund dumps coal companies

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    The world’s richest sovereign wealth fund removed 40 coal mining companies from its portfolio in 2014, citing the risk they face from regulatory action on climate change.
    Norway’s Government Pension Fund Global(GPFG), worth $850bn (£556bn) and founded on the nation’s oil and gas wealth, revealed a total of 114 companies had been dumped on environmental and climate grounds in its first report on responsible investing, released on Thursday. The companies divested also include tar sands producers, cement makers and gold miners.
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