Klimarisikoutvalget struck in the its report in December, among other things, stated that its oil wealth "is exposed above systematic climate risks". At the same time have it in the fall been debate around the NBIMs proposal to sell the fund's oljeaksjer, and Thøgersen-committee's report that has assessed this.
A new report prepared by the Re-Define for ZERO concludes that to sell oljeaksjene will reduce the Oljefondets climate risks, but that even more important the grip is to allow it to invest more in renewable energy. The reason is that renewable energy is systematically getting positive results in stress tests for climate change and policies to avoid them, with a return strongly negatively correlated with oil.
The biggest opportunities in renewable energy, is in the category of "over-the-counter infrastructure". Such investments provide long-term growth potential, low correlation to other investeringsklasser, a satisfactory relation between risk and return, and in particular gains for long-term investors without liquidity needs.
NBIM has therefore since 2006 asked about the ability to get to make such investments, so most of the sovereign wealth fund already does. Earlier in the year broke they also stated that not to open for unlisted infrastructure just limits the scope for adaptation to climate risks.
Before the summer told Parliament finally, that its oil wealth must get the mandate for such investments, but that this should be added under the "miljømandatet", which only constitutes 1 per cent of the fund. Many of the comparable fund has, however, already from 5-15 per cent of their investments in unlisted infrastructure. Report our recommend that its oil wealth should be allowed to invest at least 5 percent for it to make a meaningful difference to the fund.
NBIM has gone for a very cautious approach, and recommended to start with this type of investments only in the established markets. The expert group appointed by the Ministry of finance to assess the infrastructure investments recommended, however, to open such in vekstøkonomier. Our report also shows that the risk in such countries is different, but not necessarily much greater, and the returns are significantly better.
It is in these countries that the needs for more energy are greater, as a result of both economic growth and population growth. Sufficient investment in renewable energy is therefore crucial in order to avoid the dramatic climate change that will follow about the growth in the countries is based on fossil energy sources.
Klimarisikoutvalget stated that the most serious climate risks for the Uk is that the world did not succeed to stop the climate change. In such a scenario, when neither its oil wealth to their targets.
the Progress and the Left has long worked for its oil wealth must get invest in over-the-counter energy, the Right adopted the same on their profile and Ap is now also clear. With the majority in the Parliament, we expect that regjeringsplattformen it now is negotiated, states that its oil wealth will have to invest 5 per cent of the fund directly in renewable energy, and opens up to invest in vekstøkonomier.Burned soil