Today's news out of Norway is interesting. Those left leaning liberals have decided to divest their Government Pension Fund Global (GPFG) from upstream oil and gas producers. The Norwegian GPFG
is the world's largest wealth fund, valued at one trillion dollars.
Their move is primarily concerned about protecting the Norwegian economy from any future plunge in the oil price rather than climate concerns, although these are mentioned by the government.
That's right, one trillion dollars is being repositioned to protect the Norwegian people from the bumps and bruises of a changing capital market.
But I daresay that a trillion dollar move also has a lot to say about climate change, too.