Storebrand, a private pension and insurance fund with $68 billion in assets, is the third Norwegian investor to divest from DAPL-linked companies, following last year’s divestments from the Norwegian bank, DNB, and the Norwegian mutual fund Odin Fund Management.
Storebrand sold off $34.8 million worth of shares in Phillips 66, Marathon Petroleum Corporation, and Enbridge, all part owners of the pipeline.
The city of Seattle voted in February to remove $3 billion in funds from Wells Fargo to protest the bank’s pipeline involvement.
The divestment campaign is seen as a last resort to stop the pipeline, the Guardian reports.
Photo credit: Billings Gazette
