Storebrand has disinvested from Exxon Mobil and Chevron and added to its divestment from coal.

The Norwegian life insurer, which has about $91 billion AUM, has sold its holdings in Exxon and Chevron, along with BASF and Rio Tinto for their lobbying against the Paris Agreement. It has also sold ConocoPhillips and Husky Energy because of their involvement in oil sands.

Jan Erik Saugestad, head of Storebrand Asset Management, said although Exxon and Chevron have joined the global Oil and Gas Climate Initiative, they’ve set no firm targets for cuts across their emissions. The new policy also bans companies that get more than 5% of their revenue from coal.