Norway’s investment fund withdraws coal-related holdings, puts others on notice

first_imgNorway’s investment fund withdraws coal-related holdings, puts others on notice FacebookTwitterLinkedInEmailPrint分享Reuters:Norway’s $1 trillion wealth fund is excluding some of the world’s biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also excluding German utility RWE, South African petrochemicals firm Sasol and Dutch company AGL Energy over their use of coal.Norway’s parliament agreed in June 2019 that the world’s largest fund would no longer invest in companies that mined more than 20 million tonnes of coal a year or generated more than 10 gigawatts (GW) of power from coal. Wednesday’s announcement, made in a statement issued by the fund, is the first to reveal the measure had been applied. The fund always sells holdings before any exclusions are announced to avoid excessive market movements.Another set of companies – BHP, Uniper, and Vistra Energy – were put under observation for possible exclusion later if they did not address their use or production of coal, the fund said.The fund, set up in 1996 to save for future generations Norway’s revenues that it earns from producing oil and gas, is among the world’s largest investors, owning around 1.5% of all globally listed shares. It operates under ethical guidelines set by parliament and excludes companies from its portfolio that do not respect them. Its exclusions are often followed by other funds.The fund also said it was excluding four Canadian oil firms for producing excessive greenhouse gas emissions, the first time it has used that reason to blacklist firms from its portfolio. Canadian Natural Resources, Cenovus Energy, Suncor Energy and Imperial Oil were excluded for “unacceptable greenhouse gas emissions,” it said.[Ismail Shakil, Terje Solsvik, Gwladys Fouche]More: World’s largest wealth fund blacklists Glencore, other giants over coal uselast_img read more


How did Chelsea and Arsenal’s outcasts Mata, Jenkinson, Bendtner and Essien fare?

first_imgThe Capital One Cup is often used as an opportunity for the out-of-favour Premier League stars to force their way into a manager’s plans. Chelsea and Arsenal have their fair share of outcasts, but how did they get on in the London derby?Lukasz Fabianski (Arsenal)This was his chance to impress Wenger — but sadly he was let down by a dreadful mistake.Verdict: Still second choice behind Wojciech Szczesny.Carl Jenkinson (Arsenal)Been itching for a chance to play. It came last night — but he didn’t take it. Wanted the ground to swallow him up after his awful mistake. In fairness, though, worked hard to atone for his error, but the damage was done.  Verdict: Stay in the reserves.Thomas Vermaelen (Arsenal)Slotted seamlessly into central-defence like he has played all season and showed he is more than an able deputy should Per Mertesacker or Laurent Koscielny suffer injury or loss of form. Verdict: Ready for a first-team recall.Nacho Monreal (Arsenal) Found his chances restricted by Kieran Gibbs’ excellent start to the season. Nacho (right) is comfortable on the ball  but doesn’t offer as much as Gibbs in final third.Verdict: On the bench for now.Nicklas Bendtner (Arsenal)His presence on the pitch merely underlines Arsenal’s lack of depth up front. Not match fit and offered nothing in attack.Verdict: Embarrassing. Stay in the reserves, if he is lucky Mark Schwarzer (Chelsea)The Australian could have saved 15 penalties and he still would not have a chance of displacing Petr Cech. A sound game from the veteran keeper, though.Verdict: Still second choice behind Cech. David Luiz (Chelsea)Sloppy in possession at times and wasn’t always on the same wavelength as his team-mates. Defensively sound but that had more to do with Bendtner’s poor display than anything else. Verdict: Didn’t do enough to oust either Gary Cahill or John Terry.Michael Essien (Chelsea)At times Essien showed the power that made him one of the most feared midfield generals in European football. Faded a little towards the end but he can still cut it at Chelsea.Verdict: Should come into contention for Chelsea’s less competitive games.Juan Mata (Chelsea) How is this man not a regular for Mourinho’s side? Oozed class on the ball last night and at the heart of some of Chelsea’s best moves — and THAT goal. Wow. Classy footballer.Verdict: Too good to be on the bench. He needs to play — or leave.last_img read more