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How Low Carbon Strategies Are Gaining Momentum

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European pensions are the pioneers of the institutional investor low carbon sector. This is changing, as more institutional investors are factoring in climate change risk and returns from low carbon investment strategies. U.S. pensions are taking another look at these responsible investing tactics. From a listed equity standpoint, there is a risk of carbon emissions generated by companies and the current and future costs associated with it. Carbon-stranded assets are assets that may lose economic value ahead of their expected life because of changes in regulations, market forces, environmental concerns, market innovation or societal norms. These assets are being identified by service providers and investors and their financial impact is wreaking havoc on companies. For example, in February 2014, GDF Suez SA, France’s largest natural gas supplier, wrote of €14.9 billion, with a majority being written off from impairments on European power assets. Another example is RWE AG, Germany’s second largest utility, in January 2014, wrote down €4.5 billion as power plant earnings fell.

Coal Companies Get Smacked

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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