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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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Credit union board diversity should include tech acceptance

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Martin WebsterMany financial institutions are rethinking the makeup of their Board and the possible pathways available to bring different backgrounds, talents, and experience to their institution. Usually, these discussions evolve around getting Board Members who are younger, of a different ethnicity, gender, or profession.Along with these, I believe that efforts to create a more diverse Board should also include seeking out Board Members that bring an interest in, and a willingness to explore, technology. Technology adoption as it applies to outward facing services is absolutely necessary for continued viability alongside competitors; most institutions realize this and are doing the necessary steps to update their mobile offerings, embrace social media, and so on. But there have also been many advances in technology to support and improve internal processes as well and Board Members who commit to fulfilling the Board’s role diligently should also be aware of and open to these, especially when competitive and strategic insight can be gained.According to an article by McKinsey & Company, there are critical questions that all Boards should ask in regards to technology strategy. The article offers some valuable takeaways. I’ve spun some of their key points into items addressing technology-related issues strictly from the vantage point of my years of experience working with credit unions and idea5’s area of expertise. continue reading »last_img read more

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