Norwegian Parliament Decision

: The move has cross-party support, and parliament is set to confirm the decision June 5, according to Deutsche Welle. The largest sovereign wealth fund in the world has just agreed to divest. Environmental groups have welcomed the Norwegian parliament decision, saying it shows how lawmakers have responded to public pressure in the global fight against climate change. "This is very important and will send a very strong signal to coal burning and mining companies all over the world," Truls Gulowsen, head of Greenpeace Norway told DW. "The fund is one of the world top 10 largest investors in the global coal industry, so this will have a real impact." Greenpeace estimates that new regulations would result in around $5 billion being pulled out of the coal sector. Can you feel the momentum #Divest Norway 350 dot org May 27, 2015 "This is a clear signal to those who use coal that they have to look at other forms of energy," Hans Olav Syversen of the Christian Democrats told public broadcaster NRK. The 900 billion euro fund will no longer invest in firms where coal-fired energy accounts for 30 percent or more of their turnover or profit. "The 30 percent level is a practical and sound approach that others around the world will be able to follow," Gulowsen said. DW recommends Campaigning against fossil fuel investment The very first Global Divestment Day is celebrated on February 13 and 14 this year. Earlier this week, environmental groups delivered a petition with 44,000 signatures urging the Norwegian government to divest from fossil fuels. (news.financializer.com). As reported in the news.