Futuregrowth Seeks ‘Right Side of History’ With Clean Coal
- Debate was around need for electricity vs ‘dirty’ coal: CIO
- Coal burned to generate most of South Africa’s power
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Futuregrowth Asset Management, South Africa’s largest specialist fixed-income money manager, said it won’t participate in funding of coal-fired power generation until the industry develops environmentally sustainable methods of operating.
The decision is based on the company’s investment principles, Chief Investment Officer Andrew Canter said Tuesday at a conference on sustainable investment in Johannesburg. Futuregrowth, which has about 170 billion rand ($12.3 billion) in assets, is owned by Old Mutual Plc.