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Tag: divestment
Norway sovereign wealth fund accused 'pretend divestment'
2015-05-28 09:05:00| Climate Ark Climate Change & Global Warming Newsfeed
Guardian: The worlds richest sovereign wealth fund has sunk more money into coal just three months after a high-profile pledge to dump fossil fuels as part of its commitment to responsible investing, according to financial analysis by three environmental groups. Instead of reducing its overall exposure to businesses based on coal, the Norwegian Government Pension Fund (GPF) increased its holdings by 3bn Norwegian kroner to NOK 85.8bn ($1bn/7.3bn) by the end of last year, the report Still Dirty, Still...
Tags: fund
norway
wealth
accused
REFILE-RPT-INSIGHT-Funds feel heat of coal and tar divestment drive
2015-05-27 04:01:23| Energy - Topix.net
For Rivka Micklewaite and fellow students, securing a pledge this week from Oxford University to avoid direct investments in companies producing coal or tar sands is just the beginning. Getting that commitment involved a two-year campaign during which they staged a "marriage" between the 900-year-old university and "Big Oil" before breaking it up, to symbolise the need to end investment in fossil fuels, Micklewaite said.
INSIGHT-Funds feel heat of coal and tar divestment drive
2015-05-26 12:43:24| Oil & Gas - Topix.net
For Rivka Micklewaite and fellow students, securing a pledge this week from Oxford University to avoid direct investments in companies producing coal or tar sands is just the beginning. Getting that commitment involved a two-year campaign during which they staged a "marriage" between the 900-year-old university and "Big Oil" before breaking it up, to symbolise the need to end investment in fossil fuels, Micklewaite said.
Fossil-fuel divestment gains momentum with Axa selling coal
2015-05-23 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Bloomberg: Frances largest insurer will scrap holdings in coal companies because of concerns about climate change, broadening support for the fossil-fuel divestment movement to a major mainstream investor. Axa SA Chief Executive Officer Henri de Castries said hes working to sell 500 million euros ($559 million) of coal assets and triple green investments to 3 billion euros by 2020. He joined investors in Paris saying companies must act to contain global warming. There is one thing which is absolutely...
Tags: selling
gains
coal
momentum
Energy divestment campaigns a 'red herring', says Shell CEO
2015-05-21 17:02:00| Climate Ark Climate Change & Global Warming Newsfeed
Reuters: Royal Dutch Shell Chief Executive Ben van Beurden on Thursday slammed as a "red herring" calls for investors to divest from energy companies as part of the fight against climate change. Van Beurden singled out the "Keep it in the Ground" campaign led by British newspaper The Guardian that aims at keeping charitable funds from investing in fossil fuels. "The divest campaign, or Keep it in the Ground or the carbon bubble, ignore reality that 80 percent of the investment in the industry has to...
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