Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Wednesday, June 24, 2015

Norway Confirms Major Divestment From Coal

STOCKHOLM (AP) — Norway's Parliament has formally endorsed a move to exclude coal companies from the country's $900 billion oil fund because of their impact on climate change.

Friday's decision was expected after a parliamentary committee last week unanimously recommended dropping coal investments.

The new guidelines, which will take effect by Jan. 1, 2016, call on fund managers to exclude mining or power companies that depend on coal for at least 30 percent of their activities or revenues.

Greenpeace and other environmental groups advocating divestment from fossil fuels celebrated the move as a critical step. They estimated the decision could affect investments of $8.6 billion in 122 companies.

Norway deposits surplus wealth from its oil and gas sector in the sovereign wealth fund as a buffer for when its offshore wells run dry.

Original Article
Source: huffingtonpost.com/
Author: AP
Topics: ,

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