A definite building trend. Coal exits were the tune of 2020, now we are seeing an expansion of GSFI divesting a wider group of fossil fuel exposures. Stranded asset risks are rising.
Norway's SWF completes a US$6bn divestment of oil after a $10bn loss. https://www.businesslive.co.za/bd/companies/2021-01-29-norway-wealth-fund-withdraws-from-oil-sector/
Norway wealth fund withdraws from oil sector

New CEO focuses on sustainable investing and orders asset managers to find investment opportunities in renewable infrastructure

https://www.businesslive.co.za/bd/companies/2021-01-29-norway-wealth-fund-withdraws-from-oil-sector/
This follows @NYMajor de Blasio's US$200bn NY City Employees’ Retirement System & NY City Teachers’ Retirement System divestment of US$4bn of fossil fuel exposures last week. https://comptroller.nyc.gov/newsroom/mayor-de-blasio-comptroller-stringer-and-trustees-announce-estimated-4-billion-divestment-from-fossil-fuels/
Mayor de Blasio, Comptroller Stringer, and Trustees Announce Estimated $4 Billion Divestment from...

(New York, NY) — Mayor Bill de Blasio, Comptroller Scott M. Stringer, along with trustees of two of the City’s pension funds, today announced these funds have voted to divest their portfolios of an...

https://comptroller.nyc.gov/newsroom/mayor-de-blasio-comptroller-stringer-and-trustees-announce-estimated-4-billion-divestment-from-fossil-fuels/
Followed by the NYC Board of Education Retirement System the next day. 🇺🇸✅ https://www.startribune.com/nyc-pension-funds-to-divest-4-billion-from-fossil-fuels/600015309/
NYC pension funds to divest $4 billion from fossil fuels

New York City officials announced this week that two pension funds for city workers will pull an estimated $4 billion in investments from fossil fuel companies in order to promote clean energy use.

https://www.startribune.com/nyc-pension-funds-to-divest-4-billion-from-fossil-fuels/600015309/
This month saw @nexteraenergy close its last coal plant in Florida, with CEO James Robo noting the economics of coal power in the US no longer stack up, absent taxpayer subsidies. 🇺🇸✅ https://www.power-eng.com/coal/fpl-shuts-down-its-last-coal-fired-plant-in-florida-and-converting-another-to-natural-gas/#gref
FPL shuts down its last coal-fired plant in Florida and converting another to natural gas | Power...

Florida Power & Light’s last coal-fired plant in that state has officially closed. The formal retirement of Indiantown Cogeneration Plant (pictured) came as the clock struck midnight on Dec. 31. FPL...

https://www.power-eng.com/coal/fpl-shuts-down-its-last-coal-fired-plant-in-florida-and-converting-another-to-natural-gas/#gref
And this week saw @JoeBiden sign an executive order on climate change, and propose the cessation of all US government overseas financing for fossil fuels. 🇺🇸✅
This follows @BorisJohnson's move for the UK to cease overseas fossil fuel funding last month. https://www.climatechangenews.com/2021/01/28/us-plans-end-fossil-fuel-finance-overseas-threatens-billions-support-oil-gas/
US plans to end fossil fuel finance overseas, threatens billions in support for oil and gas

Joe Biden has pledged to work to end public funding of 'carbon-intensive' fossil fuel projects overseas - a wording campaigners fear leaves the door open to methane gas

https://www.climatechangenews.com/2021/01/28/us-plans-end-fossil-fuel-finance-overseas-threatens-billions-support-oil-gas/
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