Norway’s $2 Trillion Fund Looks to Expand Renewables Investments

Norway's $2 trillion sovereign wealth fund, the world's largest, is planning to increase its investments in renewable energy projects. The fund's global head of energy and infrastructure stated that the fund is exploring opportunities to invest in assets beyond just wind and solar power, such as power grids. The fund, which is managed by Norges Bank Investment Management, currently has around 2% of its portfolio invested in renewable energy infrastructure. However, the fund aims to expand its exposure to this sector as it aligns with Norway's efforts to transition towards a more sustainable economy. The announcement comes as the fund continues to navigate the challenges posed by the COVID-19 pandemic and the ongoing energy crisis, which has significantly impacted global markets. By diversifying its investments into renewable energy, the fund seeks to capitalize on the growing demand for clean energy solutions and contribute to the global shift towards a more environmentally conscious future.