Norwegian Sovereign Wealth Fund Sheds Billions Amid Fossil Fuel Avoidance

  • Investment funds that subscribe to the environmental, social, and corporate governance movement, also known as ESG, have suffered heavy losses over the past year.
  • Harvard Management Company, which manages the elite university’s endowment, recently admitted that its $2.3 billion loss was attributable to fossil fuel divestment efforts, even though the organization remains “proud to be deeply engaged in the issue of sustainability.”
  • Critics of the ESG movement assert that the strategy seeks outcomes in political and social causes, such as reducing carbon emissions and achieving racial diversity, in a manner that compromises the maximization of profits.


Click to read full article Go back home

Sign Up for Our Newsletter

Join our list!

Sign up here to get our daily newsletter with the top trending headlines.