Norway's largest manager of pension funds (NOK 500 billion/ $84bn/ €67bn AuM), KLP, has decided to sell off all its investments in companies that derive 50 per cent or more of their revenues from coal based operations.
South Pole Carbon assisted in calculating these coal-based related revenues and provided further company-specific analysis. Upon divesting, KLP will instead invest half-a-billion kroner (around USD 75 million) in renewable energy ventures.