Two of the world’s biggest renewable energy operators have been swept up in a crackdown on coal investments by the world’s largest sovereign wealth fund.
Germany-based RWE has been excluded from investments by the $1 trillion Government Pension Fund Global in a decision that enacts new criteria drawn up by Norway last year.
Italy’s Enel has been placed under ‘observation’ by the fund, which invests the massive proceeds of Norway’s oil and gas-based wealth on behalf of the country.
