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…Norway gets touted as a ‘green success’ story because of its take up of EVs, as if buying cars made with more coal than their own weight but which happen to have electric motors in them is a metric of anything sensible.
But anyway, its per capita consumption of oil is the 5th highest in Europe (a continent in denial) and more than 3x higher than in the UK.
(That doesn’t mean the UK is ‘good’. It’s not.)
…earlier this year I watched Simon Reeve interview Trond Grande, the deputy CEO of Statens pensjonsfond, who confirmed that it’s permitted to invest “up to 2%” in ‘green’ technology but currently only invests about 0.2%, saying
“We try to keep this fund as apolitical as possible in Norway. All we do is with a financial return in mind.”
Ah yes, the ‘non’ politics of digging humanity into its own grave
24 minutes in at https://www.bbc.co.uk/iplayer/episode/m002cg5n
Investing in the Israeli occupation isn't apolitical, unless they see Palestinians as subhumans.
…Norway gets touted as a ‘green success’ story because of its take up of EVs, as if buying cars made with more coal than their own weight but which happen to have electric motors in them is a metric of anything sensible.
But anyway, its per capita consumption of oil is the 5th highest in Europe (a continent in denial) and more than 3x higher than in the UK.
(That doesn’t mean the UK is ‘good’. It’s not.)
…Norway’s Statens pensjonsfond is “as apolitical as possible”, except when it’s not.
My noting that is not a criticism of doing the bare minimum with respect to Caterpillar, which is good.
It’s just me highlighting that “apolitical” is errant bullshit
…In the first episode of Simon Reeve’s Scandinavia documentary – https://www.bbc.co.uk/iplayer/episode/m002cg5q – at 50 minutes in, he visits the world’s largest iron ore mine in Kiruna, Sweden, where they are in the process of destabilising the town by tunnelling underneath it as they use robots to dig away a mountain.
That mine supplies a huge amount of iron into Europe’s steel manufacture, in order to produce more CO2 than steel.
Like Norway, Sweden is discovering that it too is not hermetically sealed 🤷♂️
…Though less bad than Finland and Norway, Sweden’s per capita consumption of oil is the 10th highest in Europe (a continent in denial) and a little less than 2x worse than the UK’s.
And yes, again, this does not mean the UK is ‘good’.
I don’t know the answer to your question. Heating is my guess
It is also true that we use and export a lot of petroleum (among the 10 biggest exporters of climate gases)
It you hit the #NBIM nail on the head. The fund should absolutely invest in a better future, not just economic ROI.
There are about 1.5 billion cars in the world, replaced every decade or so.
We should face the predicament as it is, not merely to suit conveniences we’ve told ourselves we can ‘afford’ while failing spectacularly to reduce global emissions
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