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Wednesday, January 30, 2013

US pension fund eyes sale of oil holdings

US pension fund eyes sale of oil holdings
A US pension fund with nearly $2bn in assets is considering selling its holdings in some of the world’s biggest oil and gas companies because of the threat posed by climate change.
In what investor advocacy groups say would be the first divestment of its kind, the Seattle City Employees’ Retirement System is to discuss on Thursday a request from Mike McGinn, the city’s mayor, to sell out of companies including ExxonMobil and Chevron.
http://link.ft.com/r/9ULF66/XB06LW/M9QF42/2OPEWF/1OW3GS/82/h?a1=2013&a2=1&a3=30

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