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ESG roundup: Investors challenge EC agriculture policy reform plans
Plus: SEC clears emissions reduction targets proposal for vote at ConocoPhilipps; Insurer AXA to drop energy company RWE
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AkademikerPension sees positive return impact after shedding last oil/gas major
Danish occupational pension fund divests Italy’s Eni, excluding last large upstream oil and gas company in its portfolio
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Pension funds take on RWE over nuclear controversy
Company attacked over board structure, 'combative' response to moratorium on nuclear energy.
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More than 200 investors throw weight behind human rights engagement initiative
Sector strategies will be developed to identify priority topics for different types of business
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ESG roundup: Another investor culls tobacco firms
Also: AP7 hails climate change actions by German firms RWE and BASF to address lobbying concerns
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RWE sets up €8bn pensions trust
GERMANY – Energy giant RWE has created an external fund known as a contractual trust arrangement (CTA) to finance €8bn worth of pension liabilities – one of the biggest ever on record.
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KLP purges NOK3.2bn of shares as coal ban goes total
The Norwegian pension fund has reduced its coal tolerance limit to just 5% of a company’s revenue, cutting RWE, Sasol and BHP from its portfolio
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German DAX companies fail to fully disclose indirect emissions
Fund managers face challenges dealing with own reporting requirements
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Ircantec exits dozen companies as new climate policy kicks in
Divested companies include Anglo American, BP, Mitsubishi, and Repsol
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RWE outlines discount rate sensitivity
GERMANY – German utility group RWE says a one-percentage-point decrease in the pension discount rate could increase its overall pension obligations by more than €2.5bn.
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Jobs threat as RWE outsources (Update)
UK – In-house pensions administration staff at a UK arm of German utility RWE have been offered voluntary redundancy amid an outsourcing deal with Capita Hartshead (updates with number of staff).
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E.ON sets up own fund to consolidate group’s occupational pensions
The fund will initially take over €2.5bn in security assets from Willis Towers Watson
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Ethos engagement pools force larger number of firms to set climate targets
The number of companies setting CO2 reduction emission targets rose to 77 from 58 a year earlier
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AkademikerPension blacklists over 200 utility companies using coal
Danish pension fund excludes firms in which 25% of energy comes from coal, selling off €83.3m of assets
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Analysis: German schemes' investment path to renewables
The German government has proposed that by 2030 at least 80% of the gross domestic electricity consumption should come from renewable sources
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RWE sets up deferred pay pension scheme
GERMANY – Utilities giant RWE has set up a deferred pay company pension scheme for its employees.
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Beyond renewables – what’s next in greenhouse gas reduction?
Renewable energy has been one of the most popular target sectors for infrastructure investors in recent years. With the rising maturity of renewables, returns of traditional projects such as wind and solar have compressed significantly, typically offering single digit Internal Rate of Returns (IRR) in mature markets.
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WTW’s German Pensionsfonds vehicle gets €2.6bn boost with Innogy
Innogy’s new owner E.On does not have a Pensionsfonds
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Norway’s oil fund to sell all remaining coal stocks
GPFG divestment to include stocks with 30% coal activities, likely to affect holdings in Germany’s RWE