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Central banks and climate change: all hot air

Summary:
Sovereign wealth funds, state investment vehicles that collectively have over tn in assets under management, appear obvious candidates to spearhead investment into climate-friendly assets. Most have long-term investment horizons, and all work in the interests of nation states that would need to spend big to mitigate the impact of global warming. Some recognise this. Norges Bank Investment Management, or NBIM, which somewhat ironically derives its wealth from Norway’s vast oil supplies and which is touted as the world’s largest sovereign wealth fund, has made ESG goals a core part of its investment strategy. Increasingly it pays to go green. Global SWF, a data platform that tracks over 400 sovereign wealth funds and public pension funds, notes in a report out earlier

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Sovereign wealth funds, state investment vehicles that collectively have...

FT Alphaville
FT Alphaville is a free daily news and commentary service giving finance professionals the information they need, when they need it. In a world where market professionals are inundated with information there is a pressing need to edit and filter, and hopefully sow a few ideas along the way. That’s where the FT Alphaville team comes in.

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