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: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Mar 08, 2017

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

ROUNDTABLE: Charting the pace of reform

Nov 23, 2017

Saudi Arabian index inclusion, the onset of taxes and the Dana Gas controversy were among the issues discussed by our cross-industry panel. Chaired by George Mitton in Dubai.

SOUTH AFRICAN ROUNDTABLE: Spirit of Ubuntu

Mar 08, 2017

The move to a three-day settlement cycle, the appearance of new stock exchanges, and recent rules on hedge funds were discussed by our panel in Cape Town. Chaired by George Mitton.