FILE PHOTO: Melting ice shows through at a cliff face at Landsend, on the coast of Cape Denison, Antarctica January 2, 2010. REUTERS/Pauline Askin/File Photo

OSLO (Reuters) - The research arm of Norway’s sovereign wealth fund has awarded grants for two projects on how climate change affects the economy and capital markets, it said on Friday.

The studies will be carried out at Columbia University and New York University, it added.

Norway’s sovereign wealth fund, the world’s largest with assets of $950 billion, has been built with revenues from the country’s oil and gas industry.