| Thirty two coal mining companies were eliminated by the world’s richest sovereign wealth fund from its portfolio in 2014. The Government Pension Fund Global (GPFG) in its first report, revealed that 114 companies were taken off its portfolio. The fund which is worth $850 billion (£556 billion) and founded on the nation’s oil and gas wealth indicated that the reasons for the elimination were purely due to the adverse climatic and environmental conditions created due to the operations of these companies.
A study revealed that only a small quantity of the fossil fuel can be burned when temperatures are kept below two degrees Celsius. Governor and President of the Bank of England and the World Bank, Mark Carney Jim Yong Kim together with others raised concerns to investors that a lot of the assets of fossil fuel can lose their value due to climatic changes...............................................Full Article: Source
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