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Reuters

Norway’s oil fund to vote against climate resolution at BP

OSLO (Reuters) -Norway’s $1.4 trillion sovereign wealth fund, one of the world’s largest investors, said on Saturday it will vote against a resolution calling on British oil major BP to adopt tougher greenhouse gas targets. While BP already aims to reduce emissions, the motion filed by activist group Follow This ahead of an April 27 shareholder vote calls on the company to align with the Paris climate deal’s goal to limit global warming. Norges Bank Investment Management (NBIM), which operates the Norwegian fund, said last year that it plans to take a tougher line on companies that do not adopt credible climate plans.