The disparity tells us a lot about where fossil fuels are headed. Will black gold regain its luster?
CPPIB is plying the oil and gas sector for investment opportunities, as well as going into renewables.
A drop in oil prices has produced a revenue shortfall for the state government, which has turned to the kitty providing Alaskans with annual dividends.
Now the dominant energy source, despite the glamor of renewables, the day it will peak may be in 2050.
Along with Carl Icahn, oil tycoon T. Boone Pickens invented the corporate raider concept.
The move is part of MP Pension’s 2020 ESG plans, which favor the Paris Agreement.
The market thinks the trade war will ax demand, which is pretty good now.
Fund keeps Shell and BP for now, but it will still watch the companies it did not divest from to see if—and how—their ESG efforts are improving.
World’s largest pension fund will dump $13 billion worth of oil, gas, and coal investments.