By Gwladys Fouche

OSLO (Reuters) -Norway’s $2 trillion wealth fund is increasing pressure on companies it invests in to cut their greenhouse gas emissions to net zero by 2050, it said on Wednesday, in a sharp contrast with the growing U.S. backlash against climate-friendly policies.

The goal of bringing all 8,500 companies in its portfolio in line with the Paris Agreement target was first formulated by the fund in 2022. In its newly updated climate plan, it will expand the list of companies it considers the highest-emitting, which it will target for a more focused dialogue.

“Climate risk is financial risk,” it said. “The fund therefore has an interest in an orderly transition to global net zero emissions.”

NORWAY FUND CONTRASTS WITH INTENSIFYING US CLIMATE BACKLASH

The fund’s updated

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