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San Francisco Pension Votes to Engage With Fossil Fuel Companies Over Climate Change; Next Step Could Be Divestment

The Board of the San Francisco Employees’ Retirement System (SFERS) voted Wednesday to begin engaging with the fossil fuel companies in which it invests. The vote opens the door for an eventual vote on divesting from fossil-fuel companies altogether – an idea that is sure to receive mixed reviews from board members and city officials. The pension ...
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Fossil Fuel Divestment Put to Vote At Dutch Pension Funds

The members of six Dutch pension funds will vote on whether $35 billion in fund assets should be divested from coal, oil and gas investments. Divestment advocates filed a resolution Monday asking the six funds to sell off their fossil fuel investments by 2018, and to use shareholder power to encourage energy companies to use more sustainable practices. The ...
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Shareholder Engagement Produces Few Results, Says Activist Investor

Shelley Alpern, Director of Social Research & Advocacy at Clean Yield Asset Management, penned a piece on Monday weighing in on fossil fuel advocacy among institutional investors. Most institutional investors have declined calls to divest from fossil fuel assets, citing their fiduciary duties as a major reason. Instead, many have opted to use their ...
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An Oil Executive’s Take on Fossil Fuel Divestment

Pension360 has extensively covered the controversy around fossil fuel divestment – even organizations committed to sustainable investing are split on whether pension funds should divest from fossil fuel assets. But it’s interesting to hear the take of a oil executive. The Financial Times asked Nigel Costeloe of North Country Energy for his opinion ...
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Sustainable Investing Experts Weigh In On Fossil Fuel Divestment; Is Engagement A Better Strategy?

Different pension funds have different opinions on how climate change should affect investment strategy. Some, like Norway’s largest pension, are willing to divest from certain fossil fuels entirely. Others, like CalPERS, prefer to use their leverage as major shareholders to engage with companies rather than divest. Many others cite their fiduciary ...
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UK Environmental Regulator Accused of “Clear Conflict of Interest” In Pension Fund Investments

A report by the Independent claims that the pension portfolio of the UK’s Environment Agency – the government body charged with protection of the environment in England – contains numerous investments in industries that the Agency regulates. The portfolio holdings may present a conflict of interest for the Agency. From the Independent: The Environment ...
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Britain Secretary of Energy: Investing in Fossil Fuels Big Risk for Pension Funds

Last week the advisory board of one of the largest asset owners in the world, the $857.1 billion Norway Pension Fund Global, concluded that divesting from fossil fuels would be an unwise financial decision that would reduce returns. But Edward Davey, Britain’s Secretary of State for Energy and Climate Change, said Monday he thinks fossil fuel companies ...
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Pension Advisory Board: Divesting From Fossil Fuels Will Harm Future Returns

There have been calls from many corners in recent months and years for pension funds and other institutional investors to begin divesting from fossil fuel-based investments. But not many institutional investors have heeded that call, choosing instead to use their sway as major shareholders to work with companies. One of the largest asset holders in ...
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Norway’s Largest Pension Divests From Coal, But Sees Risks in Exiting Other Fossil Fuels

KLP, Norway’s largest pension asset manager, said it plans to divest from coal companies and increase investments in renewable energy. The divestment from coal comes even as KLP remains heavily involved in oil and gas investments. That’s because an internal study suggested that divesting from all fossil fuel companies would pose big risks for KLP ...
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UN Secretary General to Pension Funds: Divest From Fossil Fuels

The United Nations’ Intergovernmental Panel on Climate Change presented its latest report on climate change over the weekend. UN Secretary General Ban Ki-moon attended, and he used the opportunity to urge the world’s pension funds to begin divesting from fossil fuel investments. From a 350.org press release: At a press conference in Copenhagen ...
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