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...

The Canadian Association of Petroleum Producers criticized the bank's move, noting that the industry is making environmental progress as the country's leading investor in environmental protection and innovation.

"Attempts to stifle Canadian production by restricting financing can have only one effect; countries with lower environmental standards — and in many cases lower social, human rights and governance standards — will fill the void," said association CEO Tim McMillan...

All are on record as saying they have reduced GHG emission intensity in recent years and some have set targets for more reductions.