Norways $1 trillion sovereign wealth fund may exit oil investments

Norway, home to the world's largest sovereign wealth fund at $1 trillion, has proposed dropping oil and gas investments in order to reduce the country's exposure to oil price fluctuations. Norges Bank Investment Management size is indeed massive, controlling roughly 1.5% of the world's total stocks.

Of course, the move itself is not as drastic as it sounds, since about 20% of Norway's economy is already based on oil and gas production. The fund previously divested itself of coal stocks in response to environmental concerns. Roughly 6%, or $37 billion, of the fund's equity index is currently invested in oil and gas stocks. Norway’s Finance Ministry will study the proposal and afterwards make a decision on the proposal. The entire process is expected to take years.

More details can be found below:
https://www.bloomberg.com/news/articles/2017-11-17/norway-idea-to-exit-oil-stocks-is-shot-heard-around-the-world