World’s biggest fund may have to sell big stakes in Glencore, Anglo American

Norway’s $1T sovereign wealth fund may have to sell its $1B stake in Glencore (OTCPK:GLCNF) and its $620M holding in Anglo American (OTCQX:NGLOY) under a government plan expected to be adopted by the country’s parliament today.

The plan would mandate that the fund no longer invest in companies that derive more than 30% of their revenues from coal, mine more than 20M metric tons/year of coal, or generate more than 10 GW of power with coal.

Other divestments could include stakes in Germany’s RWE (OTCPK:RWEOY), Australia’s South32 (OTCPK:SOUHY) and Germany’s Uniper (OTC:UNPPY).

The world’s largest fund previously has sold stakes in 83 mostly coal-producing companies including Peabody Energy (NYSE:BTU) and power producers ranging from Portland General Electric (NYSE:POR) to Korea Electric Power (NYSE:KEP).