New York City’s largest pension funds have voted in favor of dumping fossil fuel investments, selling off an estimated $4 billion in holdings. The move is expected to be one of the largest divestments from oil and gas corporations in the world. The city’s pension funds have a combined value of $239bn.
Independent 26th Jan 2021 read more »
Rating agency S&P has warned 13 oil and gas companies, including the some of the world’s biggest, that it may downgrade them within weeks because of increasing competition from renewable energy. On notice of a possible downgrade are Australia’s Woodside Petroleum as well as multinationals Chevron, Exxon Mobil, Imperial Oil, Royal Dutch Shell, Shell Energy North America, Canadian Natural Resources, ConocoPhillips and French group Total. S&P said it was also considering downgrading four large Chinese producers – China Petrochemical Corp, China Petroleum & Chemical Corp, China National Offshore Oil Corp and CNOOC.
Guardian 27th Jan 2021 read more »
The Scottish government will end its overseas business support for fossil fuel companies before the Cop26 climate summit in Glasgow this year. Ivan McKee, the trade minister, said that promotional activities that were solely focused on fossil fuel goods and services would cease in order to meet climate change commitments.
Times 27th Jan 2021 read more »
Scotsman 26th Jan 2021 read more »
The National 26th Jan 2021 read more »