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52 Coal Companies Among Norway Divestiture Sales

first_img52 Coal Companies Among Norway Divestiture Sales FacebookTwitterLinkedInEmailPrint分享Stine Jacobsen for Reuters:Norway’s $863 billion (£610.3 billion) sovereign wealth fund, the world’s biggest, said on Thursday it had sold shares in 52 coal-dependent companies from its portfolio as part of a policy to fight climate change.A Reuters calculation showed the stakes sold were worth at least $1 billion at the end of 2014, before the fund started big divestments from coal. The biggest holdings included a $188 million stake in CLP Holdings (0002.HK).Norway’s parliament agreed last year to make the fund, built on revenues from the country’s vast offshore industry, sell out of companies that derive more than 30 percent of their turnover or activity from coal.The fund listed U.S. firms American Electric Power Co Inc (AEP.N), AES Corp (AES.N) and Allete Inc (ALE.N) among the firms, along with China Coal Energy Co Ltd (601898.SS) and Coal India (COAL.NS), the world’s biggest coal miner by output.Global coal producer Peabody Energy Corp (BTU.N), which filed for bankruptcy on Wednesday, was also on the list. The fund expects to exclude more firms from its investment universe amid the new rule.Full article: Norway’s $863 billion wealth fund bans 52 coal-linked firmslast_img read more

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A former hospital site is getting a new lease on life

first_imgAn artist’s impression of the new Queen Street Village development.Queen Street Village marketing manager and TOTAL Property Group managing director Adrian Parsons said Palladium was in a highly sought-after location right in the heart of Southport, close to great healthcare and education facilities, and with the light rail station right on its doorstep.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus19 hours ago“Palladium residents will enjoy a sense of community and pride of place by being part of Queen Street Village, a self-sustaining economy where businesses are supported by people that live and work in the area,” he said. It has one, two and three-bedroom apartments in a variety of floor plans, starting from $345,000.A retail piazza will be constructed on the ground floor. Queen Street Village is the latest project by Brisbane-based developer, Property Solutions.The company was the developer behind projects such as James Street at Fortitude Valley, The Barracks at Paddington, SW1 at Southbank and the urban redevelopment of Nundah Village.Property Solutions sales and marketing director Craig Wright said Queen Street Village and its residential buildings were designed with the owner-occupier in mind. An artist’s impression of the Queen Street Village at SouthportTHE former Gold Coast Hospital site at Southport is getting a new lease on life, with the first residential apartment within a new $550 million integrated masterplanned community recently launched to the market.Palladium – a 17-storey apartment tower with retail piazza – will be the first stage of the Queen Street Village, which will be built on the 3.2ha site.Once completed, it will include residential apartment buildings, supermarket, retail and dining precincts, a medical centre, commercial office space, a 160 room hotel, and an 11-cinema complex. Adrian Parsons and Craig Wright at the site of Queen Street Village, Southport.“Now the development approval has been released by Gold Coast City Council, we are excited to be in a position to take expressions of interest for our forthcoming sales release of Palladium,” he said.“Our showroom will be opening soon and one of the first things people will notice about Palladium apartments is the abundance of space, with very comfortable living and dining areas that open up to expansive balconies.”Interested buyers are encouraged to register. They will then be the first to preview the range of floor plans, architectural detail, finishes, interior styling and images of the panoramic views beforePalladium is released to the general marketplace.The $550 million Queen Street Village will be developed over the next six to eight years.last_img read more

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