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Guardian finds pension funds exposed to climate change risks due to investments in coal

Author: Damian Carrington & Caelainn Barr, Guardian (UK), Published on: 15 June 2015

"Coal crash: how pension funds face huge risk from climate change", 15 Jun 2015

The pension funds of millions of people across the world...are heavily exposed to the plummeting coal sector, a Guardian analysis has revealed.It has also found that just a dozen people...own coal reserves equivalent to the annual carbon emissions of China, the world’s biggest polluter. The UN, which advocates a shift to clean energy, has more than $100m (£65m) invested in coal through its own pension fund.The Guardian examined the ownership of the biggest 50 publicly traded coal companies, ranked by the reserves of the fossil fuel they hold. If burned, these reserves would produce the equivalent of more than 10 years of global emissions. This alone could push the planet past beyond the 2C of climate change deemed dangerous by the world’s governments.A fast-growing, global fossil fuel divestment movement, backed by the Guardian’s Keep it in the Ground campaign, is having particular success in persuading investors to dump coal stocks. [Refers to: APG, Adani Group, Evraz, BlackRock, Allianz, Legal & General, Sasol, Vale, Rio Tinto, Arch Coal, Alpha Natural Resources, Consol Energy, Capital Group, Vanguard, State Street, Aberdeen Asset Management, AXA, UBS, J.P. Morgan, BNP Paribas, and PGGM]

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Related companies: Aberdeen Asset Management Adani Group Allianz Alpha Natural Resources APG Arch Coal AXA BlackRock BNP Paribas Capital Group Consol Energy Evraz J.P. Morgan (part of JPMorgan Chase) Legal & General Investment Management PGGM Rio Tinto Sasol State Street UBS Vale Vanguard