World’s No. 1 Stock Owner Calls Out Big Oil as Carbon Levels Go Up

From bnnbloomberg.ca

A senior executive at Norway’s sovereign wealth fund, which owns a larger share of global stocks than any other investor, says Big Oil’s transition strategy isn’t holding up as carbon emissions continue to rise. “The oil and gas industry, as a whole, clearly isn’t doing enough to cut emissions,” said Carine Smith Ihenacho, chief governance and compliance officer at Norges Bank Investment Management. “Currently, there’s a long way to go, as global emissions are still going up.” The criticism comes as some of the world’s biggest oil companies double down on their core business and Brent crude inches ... (full story)