You gotta love the irony of the situation. Norway has been considering a change in the investment policy of its giant $800 billion national wealth fund by divesting all its holdings of fossil fuel companies to help stop climate change. Guess where the $800 billion came from? That's right, from its North Sea oil.
They are not gonna divest however, as they think it would not be effective. They plan instead to "influence from inside" by working directly with bad companies. That's a relief since the fund on average owns 1.3% of every developed public market equity and a sale of those assets would probably knock back Canada's energy and coal mining companies yet more.
Mind, there is another solution to the Norwegians' dilemma with their "ill-gotten wealth" that would relieve their collective conscience. Could they not just give the money away to poor African countries?