Jul 4, 2019

National Trust shuns fossil fuel investments

The National Trust has announced that it will sell off the shares it holds in fossil fuel companies. Last month, the Norwegian parliament approved plans for the country's sovereign wealth fund, which manages $1tn of the country's assets, to sell coal and oil investments worth $13bn and invest in renewable energy projects instead. "Over the years, we've gradually evolved our investment strategy to reduce our carbon footprint," said the Trust's chief financial officer, Peter Vermeulen. "Many organisations have been working hard to persuade fossil fuel companies to invest in green alternatives. These companies have made insufficient progress and now we have decided to divest from fossil fuel companies." The Trust said it analysed the carbon footprint of its investment portfolio every six months. The National Trust is responsible for the upkeep of 248,000 hectares of land, 780 miles of coastline and more than 500 historic buildings and parks across England, Wales and Northern Ireland.

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