Aid-financed climate investment fund massively outperforms Norway’s oil fund on renewable energy

Business April 11, 2025 / By: Bjørn H Amland

The Norwegian aid-funded Climate Investment Fund reports solid returns on its renewable energy investments in countries like India and South Africa, while the oil fund, the country’s sovereign wealth fund, is losing money on its renewable investments which are restricted to Europe and North America. There are no immediate plans to alter the oil fund’s strategy, says Finance Minister Jens Stoltenberg, but he does not rule out changes in the future.

Stoltenberg - Ida Laingen Finansdepartementet.jpg — Norwegian Finance Minister Jens Stoltenberg does not rule out future changes in the oil fund’s strategy on renewable energy investments. (Photo: Ida Laingen / Finance Ministry Oslo)

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