Storebrand AM ditches Exxon and Chevron over climate lobbying

$91bn manager warns BP, Shell and Equinor not to ‘rest easy’, as it sheds 27 stocks over climate concerns and urges other investors to follow suit

Jan Erik Saugestad, Storebrand Asset Management
Jan Erik Saugestad, Storebrand Asset Management

Norway’s largest private asset manager has today announced the divestment of 27 stocks, representing $47m in shares, as part of its new “enhanced” climate policy, designed to “stimulate the green transition”.

US oil & gas giants Exxon and Chevron are among those excluded by Storeb…

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