Americas, Asia Pacific

Giant Chinese state investment fund drops coal

Responsible Business | Apr 04, 2019

SHARE

China’s State Development and Investment Corp, a sovereign wealth fund with more than US$200 billion in assets under management, has announced that it will cease investments in coal power in favour of renewable energy. The announcement, made to Chinese reporters and confirmed by the Australian Financial Review, tracks a national policy of attempting to shift the country onto a cleaner energy track to reduce both emissions and air pollution in its major cities.

The SDIC’s move brings it in line with other major investors—including banks, investment funds and state bodies, from the Norwegian sovereign wealth fund to the city of New York—who have reduced their exposure or entirely divested from coal and other hydrocarbons. Last September the investment firm Arabella Advisors estimated that investors representing more than US$6 trillion in assets under management had now divested from fossil fuels.

The Weekly Briefing is delivered to you by Responsible Business, with the exclusive news, insights and content to deliver practical solution to global challenges. Sign-up here to receive weekly updates and stay up to date.

SUBSCRIBE FOR UPDATES

Thank you for subscribing!

Your subscription has now been confirmed. We look forward to keeping you up to date on the latest news around sustainable development in your chosen fields.

NESTLE

Your subscription has now been confirmed. We look forward to keeping you up to date on the latest news around sustainable development in your chosen fields.

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
ErrorHere
Stay connected. Be informed. Join the conversation

Sign up for our Weekly Newsletter and receive updates on all the latest sustainable development news, tools and insights straight to your inbox.