South Korea’s National Pension Service curbs investments in coal
The NPS is considered the world’s third largest pension fund.
South Korea’s National Pension Service will restrict investments in dirty fuels days before the country’s pledge to further cut down on greenhouse gas emissions.
NPS will “adopt investment-restriction strategies” for coal-mining and power-generation industries and implement a “negative screening” for these sectors, according to South Korea’s health ministry.
The ministry also added that it will stop investing in the construction of new coal-fired power plants and plans to establish step-by-step action plans and conduct research on the screening strategy in the second half of this year before starting to apply the restrictions to its portfolio.
NPS did not elaborate as to when these measures will take place.