06 Jul '18, 6am

Six sovereign wealth funds sign pledge to boost efforts to fight #climatechange

Six sovereign wealth funds sign pledge to boost efforts to fight #climatechange

PARIS (AFP) - Six sovereign wealth funds including four Gulf states have pledged to boost efforts to fight climate change at a Paris meeting called by President Emmanuel Macron, the French presidential office announced on Friday (July 6). The state funds of Kuwait, Norway, New Zealand, Qatar, Saudi Arabia, and the United Arab Emirates - global finance heavyweights mainly fuelled by domestic oil and gas revenue - promised to encourage the companies they invest in to tackle the rising threat of a warming planet. The heads of the funds, which together are worth more than US$3 trillion (S$4 trillion), signed a charter to be unveiled on Friday evening at the Elysee palace. In it, they agree to push companies to integrate the risk of climate change into their business plans and publish information on strategies to reduce carbon use. "The transition to a low-carbon economy create...

Full article: https://www.straitstimes.com/world/europe/six-sovereign-w...

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