Norwegian Finance Ministry keeps hands off oil fund’s ban on renewable energy investments in emerging economies

News November 05, 2024 / By: Bjørn H Amland

The leadership of Norway’s Ministry of Finance tells Development Today that an orderly transition to a low-emission global economy is in the interest of the multi-trillion-dollar oil fund, but it will not interfere in the fund’s current ban on making direct renewable investments in emerging economies. Meanwhile, the relatively tiny aid-financed Climate Investment Fund is considered a fiscal cost, despite its double-digit returns.

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Norwegian Finance Ministry keeps hands off oil fund’s ban on renewable energy investments in emerging economies

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