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: 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...

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.

Roundtables

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.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.