UK Launches £2B Energy Wealth Fund, 50 Years After Norway's Sovereign Fund

The UK announced a £2 billion Energy Wealth Fund to invest North Sea oil and gas tax revenues into renewables, alongside approval of the Jackdaw gas field. The move comes decades after Norway established its sovereign wealth fund, highlighting a missed opportunity for larger savings. The fund's small size relative to Norway's suggests limited near-term fiscal impact, but signals a policy shift toward channeling fossil fuel revenues into green infrastructure.

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