Trudeau says wealth fund blacklisting of Alberta companies a wake-up call on climate change action

"Prime Minister Justin Trudeau says news that one of the world's largest investment funds will exclude four Canadian oilsands producers from consideration for investing is part of a continuing shift in global attitudes for which oil companies will have to adjust.


On Wednesday, Norges Bank Investment Management, which manages Norway's sovereign wealth fund, announced it would stop investing in Calgary-based Canadian Natural Resources Ltd., Cenovus Energy Inc., Suncor Energy Inc. and Imperial Oil Ltd. after concluding they produce unacceptable levels of greenhouse gas emissions.


It also excluded three other non-Canadian companies, two over environmental concerns and one for human rights reasons. It said its holdings in all of the companies have been sold."


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