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Stock impact report

Korea's $800 Billion Pension Fund Will Start Exiting Coal Firms [Yahoo! Finance Canada]

Korea Electric Power Corporation (KEP) 
Most Read from Bloomberg The NPS will stop investing in companies that get more than 50% of their three-year average revenue from coal-fired power generation or production of the fuel, the welfare ministry said Thursday. The restrictions will come into force from next year for overseas companies and from 2030 for domestic firms. South Korea has vowed to zero out emissions by mid-century, but the government's slow transition to clean sources has helped reduce pressure on the NPS to follow global pension managers in exiting fossil fuels after it initially made a commitment in 2021 to ditch coal. While Norway's $1.7 trillion fund, which has been one of the global pioneers, said in 2016 that it had started removing companies based on their use of coal from its portfolio, Japan's $1.6 trillion fund has also been accused of treading water on sustainable investing. “The NPS has chosen the most lenient option, and even that took them more than three years to finalize,” Lee Jong-O, a di Show less Read more
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