NORWAY TO SPEND $3BILLION USD ON ENVIRONMENTAL INVESTMENTS

Norwegian Pension Fund Plans to invest $3 Billion

into

Environmental Investments

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The government of Norway has proposed to the Parliament a plan

to establish a NOK 20bn ($3.1 billion) environmental investment program

within the Government Pension Fund.

The money will be spent on sustainable growth in emerging economies,

according to a statement from the government.

The program will target investments “that can yield indisputable benefits”,

including clean energy, improving energy efficiency, carbon capture and storage,

water technology, and management of waste and pollution.

Minister of finance Kristin Halvorsen said, ‘We are planning that the entire amount

for the environmental program and a possible investment program aimed at

sustainable growth in emerging markets will be around NOK 20 billion,

invested over a five-year period

Sourced and published by Henry Sapiecha 23rd June 2009

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