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