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IEEFA
Reuters: New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund’s Comptroller Thomas DiNapoli said on Monday. The New York State Common Retirement Fund will divest more than $7 million in securities already held […]
Press Release and Guest Commentary: John Robert
With export markets' changing expectations, investors and industry beware
31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]
Tom Sanzillo
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms, BlackRock and Meketa, have separately concluded that investment funds have experienced no negative financial impacts from divesting from fossil fuels. In fact, they found evidence of modest improvement in fund return, according to draft reports undertaken at the request of New York City’s comptroller on behalf of three of the […]
Simon Nicholas
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A concerted effort by the U.S. gas industry to push LNG onto developing Asian nations is jeopardising renewable energy investment across the continent. Vietnam’s new draft long term energy plan indicates lowering coal power ambition but increased focus on LNG is included at the expense of solar power development. Meanwhile GE has been working to […]
Trista Rose
Planned fossil fuel exit by the world’s largest coal port is paralysed by lending constraints and a secret NSW government deal
The Port of Newcastle’s planned exit from fossil fuels suffered further setback last month after ANZ withdrew financing from the terminal, presently the world’s largest port for exporting thermal coal. ANZ had previously been a major lender to the port, however divested its position during the latest round of refinancing of approximately A$900 million in […]
IEEFA
Nikkei Asia: Dai-ichi Life Insurance will aim to reduce carbon dioxide emissions from its investment portfolio by 30% by 2025, a potentially trend-setting step by one of Japan’s top institutional investors. The insurer, which manages 36 trillion yen ($337 billion) in assets, plans 700 billion yen in sales by fiscal 2023 to reduce its holdings […]
IEEFA
Path Of Ex: M&G, the UK-listed fund management group, will begin to phase out coal across its investments, making it the latest asset manager to commit to ending its investment in fossil fuels. The asset manager, which oversees close to £340bn, said it will “use its influence to accelerate the transition to a greener, cleaner […]
Tim Buckley
The biggest buyers of Australian thermal coal have committed to net-zero emissions
Listen to the podcast here. ANZ, Australia’s third largest bank, has decided to stop lending to the Port of Newcastle, the world’s largest thermal coal export terminal, under its new climate change policy to cut funding to the coal sector, including the associated infrastructure and service providers. To look at the background to the bank’s […]
IEEFA
Bloomberg: Aviva Investors, one of Britain’s top asset managers, will divest from oil, gas, mining, and utilities companies that do not meet its expectations on tackling climate change. The London-based investor has written to the companies, calling on them to set net zero emissions goals and integrate climate risks into their strategy, including their plans […]
IEEFA
Pensions and Investments: Two of the five pension funds in the New York City Retirement Systems will divest an estimated $4 billion in securities related to fossil fuel companies, city officials said Monday. Boards of the $77.4 billion New York City Employees’ Retirement System and the $91.4 billion New York City Teachers’ Retirement System voted […]
IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders
With export markets' changing expectations, investors and industry beware31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]