Despite Rhetoric, Direct Sovereign Wealth Fund Investments Fall Flat in Renewables
Posted on 02/08/2021
The wealth of the world’s largest sovereign wealth funds is substantially built from fossil fuels such as oil and gas. Following the logic that oil and gas pollution contribute to the global warming of the planet, sovereign wealth funds could be perceived as a financial contributor to climate change, similar to companies like ExxonMobil, BP Plc, and Chevron. Since 2008, Western policymakers and college professors have urged sovereign wealth funds to use their oil and gas wealth to fund renewable energy generation and technologies. Many academics and organizations like the OECD Development Centre view sovereign wealth funds, due to their size and market power, of possessing the ability to catalyze faster adoption of renewable energy to displace fossil fuels. Sovereign investors have supported and invested in solar and wind assets, but cautioned that investments must be commercia
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Norway’s Sovereign Wealth Fund Looks to Have Made an Unrealized Half Billion Gain in GameStop
Posted on 01/30/2021
Norges Bank Investment Management (NBIM) is the manager of Norway Government Pension Fund Global (Norway GPFG). The sovereign wealth fund is a major holder of listed equities. Norway’s SWF has around US$ 927 billion in listed equities at the end of 2020.
SEC filings report that NBIM had 1,811,792 shares of GameStop (ticker: GME) at December 31, 2019. The year-end price close was US$ 5.90 per share. If Norway’s SWF, did not sell shares of GameStop in 2020 and held it recently, the recent close of GME was US$ 325 per share. Based on the available data, Norway SWF’s position in GameStop was worth US$ 10,689,572.80 at the end of 2019 and the latest close, it is worth US$ 588,832,400.