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% or more of their revenues from coal based operations.
South Pole Group 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.
