June 6, 2015 - 12:17 — Timothy Gillespie
"Coal is dirty business and Nova Scotia's electricity is destroying the South American environment."
Norway’s $890 billion government pension fund, considered the largest sovereign wealth fund in the world, will sell off many of its investments related to coal, making it the biggest institution yet to join a growing international movement to abandon at least some fossil fuel stocks.
Norway's Parliament voted Friday to order the fund to shift its holdings out of billions of dollars of stock in companies whose businesses rely at least 30 percent on coal. A committee vote last week made Friday’s decision all but a formality; it will take effect next year.
Nova Scotia is one of Canada's worst coal-fired polluters, with more electricity produced from coal than all other sources combined. In a Chris Benjamin story in The Coast, he describes Nova Scotia's use of "blood coal" and says "Coal is dirty business and Nova Scotia's electricity is destroying the South American environment."
In a report, "Electricity from coal: time to turn the page on Canada’s dirtiest source of power", the Pembina Institute describes the extent to which Nova Scotia depends on dirty coal for its electicity.
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