Hopes were raised as far back as 2013 that Norway’s $800bn Government Pension Fund Global (GPFG) – the world’s biggest sovereign wealth fund – could become a major new source of renewables financing, after politicians in the country said they would consider changing the rules to allow it to back infrastructure in sectors such as energy.
But the government then dragged its feet on the issue, until finance minister Siv Jensen this week decided against exposing the fund to areas where she claimed “investments are exposed to high regulatory or political risk.
“Conflicts
