Why oil-rich Norway is switching to renewables – The Wall Street Journal

It’s a sign of the times: Oil-rich Norway is diversifying its investments by increasing its allocation to renewables and getting out of fossil fuels.
Published on: 

It's a sign of the times: Oil-rich Norway is looking to diversify its investment holdings by increasing its allocation to renewables and getting out of fossil fuels. I think this holds an important lesson for South Africa – fossil fuels are yesterday's news and the future is renewables. As the country struggles to rethink its energy sector and deal with the fallout from Eskom, renewable energy must be a core part of the discussion. SA is well-positioned for solar and wind power, and now is the time to think about how to build a resilient power system that will not contribute to global carbon levels and will provide the affordable and reliable energy that SA needs. If Norway, which has spent a generation growing its wealth on the back of its oil reserves, thinks that it's time for a change, who are we to argue? – Felicity Duncan

Norway's sovereign-wealth fund boosts renewable energy, divests fossil fuels

By Dieter Holger

(The Wall Street Journal) Norway's sovereign-wealth fund is embracing renewable energy and winding down fossil-fuel investments.

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com