PARIS, Dec 7 (Reuters) - Momentum among institutional investors to divest from carbon-intensive companies is picking up, making them potential “game changers” in curbing emissions, the head of a Swedish state pension fund said on Monday.
“Institutional investors as the universal owners of corporations, and as the largest pool of capital, are entering the game,” said Mats Andersson, the chief executive officer of the SEK 276 billion ($32.38 billion) Swedish national government pension fund AP4. Another fund, AP2, said last week it had divested from coal-fired power utilities.
Such investors “have also started to rid their large core and mainstream investment portfolios of the risks linked to climate change and, in particular, the risks associated with the transition to low carbon economy,” he told a business forum on the sidelines of a United Nations climate summit in Paris.
$1 = 8.5232 Swedish crowns Reporting by Bate Felix