Korea's $800 Billion Pension Fund Will Start Exiting Coal Firms.

South Korea's National Pension Service, the world's third-largest retirement fund, will begin divesting from overseas coal producers and potentially the nation's state-run utility in line with stricter climate policies. The fund will stop investing in companies that derive more than 50% of their revenue from coal-fired power generation or coal production. While the NPS has been criticized for its slow transition away from fossil fuels, it will start selling shares in about 28 overseas companies next year and divest from domestic firms by 2030 if they do not have energy transition plans in place. The fund manages assets worth approximately $791 billion and allocates nearly 5% of its global equity portfolio to the energy sector. [Extracted from the article]