Norway’s $1 trillion sovereign wealth fund may soon be advised to dump the worst emitters of gasses that contribute to climate change, according to its watchdog. The Council on Ethics is about to put forward its first recommendations based on new climate gas emission guidelines. While a final decision is up to the fund, the proposals should come as no surprise since the investor seems “well prepared,” Johan H. Andresen, the head of council, said in an interview at the council’s office in Oslo on Monday... "We’re looking at energy, cement production and maybe steel.”

The world’s largest wealth fund, which is overseen by Norway’s parliament, takes into account ethical rules encompassing human rights, some weapons production, corruption, the environment, coal and tobacco when deciding on its investments...