On June 5 Norway’s parliament approved a proposal that will see its gargantuan US$900bn Government Pension Fund Global divest stakes in mining companies that derive more than 30% of their revenues from coal and power companies that are more than 30% reliant on coal for generation.
Banks and asset managers are rushing-in to adopt environmental, social and governance (ESG) risk when making investment decisions. They are starting to provide their clients with direct assess to professional advisors who specialise in this area as well.
Being a signatory to the UN Principles for Responsible Investment (PRI) has become a badge of honour for many pension funds and asset managers.
In 2008, Abu Dhabi embarked on ambitious plans to create a world-leading sustainable eco-city that would serve as a blueprint for how other cities can accommodate rapid urbanisation while reducing energy output, water and waste. This vision was realised in Masdar City – a city reliant on clean energy generated on-site from rooftop solar technology as well as one of the largest photovoltaic (PV) installations in the Middle East.