Norway was always more willing than most to use oil and gas derived money in order to show how friendly they are to the environment. They paid up and they were never shy about showing off their green credentials. But even rich Norway starts to feel the sting of the big money devouring Black Hole called the Green Industrial Complex. You cannot argue with them as they will never be sated. Feeding them just makes them bolder. Soon they will want you to stop breathing. The revolution eats its children.
Morten Baltzersen, the head of the Financial Supervisory Authority in Norway, says the rush to plow funds into investments that fulfill environmental, social and governance (ESG) standards has opened the door to a new risk.