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Article

11 Feb 2015

Author:
Damian Carrington, Guardian Sustainable Business (UK)

Divestment includes 32 coal mining companies due to climate change concerns

"World's biggest sovereign wealth fund dumps dozens of coal companies", 5 Feb 2015

The world’s richest sovereign wealth fund removed 32 coal mining companies from its portfolio in 2014, citing the risk they face from regulatory action on climate change...As part of a fast-growing campaign, over $50bn in fossil fuel company stocks have been divested by 180 organisations on the basis that their business models are incompatible with the pledge by the world’s governments to tackle global warming. But the GPFG is the highest profile institution to divest to date. [Refers to Axa Investment Managers, Shell]