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News round-up: Axa, Macquarie, NY State Retirement Fund, Ambienta

News Round Up: NY State Retirement Fund, Ambienta

Norwegian oil fund exits stakes in 12 firms on ESG concerns

The giant Norwegian oil fund has excluded a dozen companies from investment due to environmental, social, and governance (ESG) concerns, including mining giants such as Anglo American, Glencore and Vale in which it was a major shareholder.

PKA divests from five oil companies, considers 44 more

Danish Pension fund PKA has divested from five Canadian oil companies over concerns they are at risk of devaluation amid from attempts to tackle climate change.

$271bn of capital at risk in Canadian oil sands, says Carbon Tracker

Companies developing oil sands in Canada risk wasting $271 billion of capital on projects that would be uneconomic at an oil price below $95/barrel, the Carbon Tracker Initiative (CTI) has warned.

Will there be blood?

The stranded carbon assets debate has gathered steam in the wake of a new report on the oil sector and after fossil fuel giants addressed the issue for the first time. What are the implications for investors, asks Peter Cripps.

Cenovus wades into stranded assets debate

Canadian oil firm Cenovus Energy has become the latest fossil fuel company to engage in the debate on 'stranded carbon assets'.