Norway State Fund exits companies that violate coal rules

The Norwegian State Investment Fund withdraws from companies that do not comply with the rules on coal mining. Companies that use coal are also blacklisted. One of the names is commodity trader Glencore, the state fund said on Wednesday.

In addition, the government investment fund will withdraw from German energy company RWE, mining company Anglo American, Australian energy supplier AGL Energy and chemical company Sasol from South Africa.

Another four companies have been placed under observation, including mining company BHP Group.

The fund should not invest in companies that annually extract more than 20 million tons of coal from the ground or produce more than 10 GW of electricity from coal, the Norwegian parliament determined last June.