Talk about biting the hand that feeds.
Norway’s sovereign wealth fund — the world’s largest — is set to support climate resolutions at the shareholders meetings of Exxon and Chevron even as its state oil company expands oil and gas exploration in what climate activists describe as giving “the middle finger” to the Paris Accord.
Government Pension Fund Global — the Norwegian equivalent of the CPP — told London’s Financial Times, it will support resolutions to introduce Scope 3 emissions targets at AGMs in Irving, TX and San Ramon, CA next week.
It comes even as the Norwegian energy ministry announced this month it would step up oil exploration in the Barents Sea to improve Europe’s energy security in the wake of Russia’s invasion of Ukraine. Last year the country overtook Russia to become the EUs largest supplier of oil and gas.