Biggest sovereign wealth fund puts oil stocks on notice

Norway is now taking another look at the mandate handed to its wealth fund, the world's biggest

Norway’s wealth fund says there are oil companies in its portfolio that “absolutely” aren’t doing enough to cut emissions, as the guidelines it operates by are reviewed to give climate risk greater prominence.

Norges Bank Investment Management still holds stakes in a number of fossil-fuel giants, including Exxon Mobil, Chevronand BP, after failing to win political approval to dump its entire portfolio of oil stocks a few years back.

“These are companies we monitor very, very closely with a view to the climate and emissions,” Carine Smith Ihenacho, chief corporate governance officer at the Oslo-based fund, said in an interview. 

Norway is now