News

ADIA, an oil fund, says it wants to go green

Wind_farmThe Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund created to invest the income from oil exports, says it may increase its investment in renewable energy. “The world’s energy industry is in the early stages of a fundamental shift from fossil fuels to a more sustainable reliance on a range of renewable technologies,” said the authority, in its annual report. ADIA said it had conducted a review of “the important reality of climate change and its potential impact” and may now deploy capital in support of these “new fields of investment”. Two years ago, ADIA invested in Indian renewable energy company Greenko Energy Holdings, along with Singapore’s GIC fund. Norway’s $1 trillion sovereign wealth fund, believed to be the world’s largest, has also stated its intention to assess the impact of climate change on its investments. In ADIA’s financial results for 2017, the fund posted a slight increase in its 20-year annualised return to the end of 2017 compared with 2016 (from 6.2% to 6.5%). ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.