Almost $1bn wiped off the value of UK pensions’ coal investments
Financial Times, October 11, 2015
“Nearly a billion dollars has been wiped off the value of coal investments by UK public pension funds over the past 18 months, intensifying pressure on the schemes to pull out of “stranded” fossil fuel companies …
Mika Minio-Paluello, a researcher at Platform London, the environmental campaign group that analysed the pension schemes’ holdings, said the combined $978m ($971m) drop in the value of their coal investments reinforced the argument in favour of fossil fuel divestment.
The campaign group examined the exposure of 61 public sector schemes to four large coal companies, BHP, Rio Tinto, Glencore and Anglo American, which are also under pressure from sliding commodity prices and the slowing Chinese economy.”