Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Colombia: President Gustavo Petro: Trump's insult to myself and Colombia is no longer aimed at achieving an effective counter-drug strategy
Trump cancels Putin meeting, says "didn't feel right"
Al Mayadeen's correspondent in Caracas: The United States attacks another alleged drug-trafficking ship off the coast of Colombia in the Pacific Ocean
Palestinian official urges world to force 'Israel' to comply with ICJ ruling: AFP
Israeli media says Knesset approved bill to annex in West Bank in preliminary reading
Kremlin: As part of strategic nuclear force exercise, Cruiser Bryansk launched Sineva ballistic missile from Barents Sea.
Kremlin: Yars Intercontinental Ballistic Missile launched from Plesetsk Cosmodrome at Kura test site in Kamchatka.
Kremlin: Strategic nuclear forces exercise took place under Putin's leadership.
Lebanese MP Imad Al-Hout, following his meeting with the Grand Mufti of the Republic: Lebanon is the last country to move toward peace and normalization [with "Israel"]
Al Mayadeen's correspondent in South Lebanon: One martyr reported in Israeli drone strike targeting motorcycle in Ain Qana.

Norway's oil fund urges carbon neutrality by 2050

  • By Al Mayadeen English
  • Source: Agencies
  • 20 Sep 2022 15:52
2 Min Read

Norway's wealth fund, also known as the oil fund, is paradoxically fueled by the Norwegian government's oil revenues.

  • x
  • A general view of the Norwegian central bank, in Oslo, Norway, March 6, 2018. (REUTERS)
    A general view of the Norwegian central bank, in Oslo, Norway, March 6, 2018 (Reuters)

Norway's sovereign wealth fund, the world's largest, announced on Tuesday that it will require the approximately 9,000 companies in which it has invested globally to achieve zero net carbon emissions by 2050.

"We set a target of net zero emissions by 2050 at the latest for all companies," Carine Smith Ihenacho, the fund's chief governance and compliance officer, said while announcing the fund's new climate action plan.

"We will engage with the companies to reach this target by setting credible preliminary targets and creating plans to reduce their direct and indirect emissions of greenhouse gases," she added.

As per the IPCC, the UN climate expert panel, achieving carbon neutrality by 2050 is required to limit global warming to 1.5 degrees Celsius, in accordance with the Paris Agreement's goals.

Norway's wealth fund, also known as the oil fund, is paradoxically fueled by the Norwegian government's oil revenues.

It is worth over $1,200 billion and has stakes in over 9,000 businesses in 70 countries.

So far, only about 10% of these businesses have set a carbon neutrality goal.

The fund's goal is to assist groups in which it is invested in developing a climate plan through dialogue, voting rights at general meetings, and, "as a last resort," divesting its shares, Ihenacho explained at a press conference.

The fund has already sold its holdings in four companies with excessive greenhouse gas emissions.

The new plan follows the Norwegian government's decision to strengthen the climate mandate of the fund.

The fund's value fell by 1,680 billion kroner in the first six months of 2022, owing primarily to volatility in global stock markets.

The only sector to show a positive return was the energy sector, which included oil and gas companies that benefited from rising prices in the aftermath of the war in Ukraine.

  • Norway's oil fund
  • carbon neutrality
  • oil fund
  • Norwegian
  • oil revenues

Most Read

Yemeni Armed Forces Chief of Staff Major General Mohammad Abd al-Karim al-Ghamari , during a ceremony in an undisclosed locations in Yemen, undate (Yemeni Military Media)

Yemeni Armed Forces mourn martyred Chief of Staff al-Ghamari

  • Politics
  • 16 Oct 2025
From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
Smoke and fire rises after 'Israel' launched airstrikes on the village of Ansar, Lebanon, October 16, 2025 (social media)

'Israel' launches two waves of brutal strikes on east, south Lebanon

  • Politics
  • 16 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Pro-Palestinian activists protest at Lafayette Park across from the White House to mark the approaching one year anniversary of the Israeli war on Gaza, Saturday, October 5, 2024, in Washington. (AP Photo/Jose Luis Magana)
Arts and Culture

Jewish figures calls for sanctions on 'Israel' over Gaza genocide

Activists from the Foreign Press Association during a panel calling for press freedom in Gaza, April 11, 2025 in London, England. (X/ @FPALondon)
Politics

FPA demands Israeli court to allow int'l journalists access to Gaza

Matsapha Correctional Complex is seen in Matsapha, near Mbabane, Eswatini, Thursday July 17, 2025. (AP Photo)
Politics

Cuban man deported from US to Eswatini launches hunger strike

Russia President Vladimir Putin conducts a strategic nuclear forces exercise via videoconference from the Presidential Situation Centre at the Kremlin in Moscow, on Wednesday, October 22, 2025. (Alexander Kazakov, Sputnik, Kremlin Pool Photo via AP)
Politics

Putin oversees ICBM, cruise missile tests in strategic nuclear drill

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS