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Pax World divests fund from fossil fuels for investment reasons

2014-05-02 10:05:00| Climate Ark Climate Change & Global Warming Newsfeed

Blue and Green: The US-based firm Pax World Management has announced that it has fully divested one of its funds from fossil fuel companies, meaning it now has two fossil fuel-free funds on offer. The firm announced on Thursday that the Pax World Growth Fund (PXWGX) will now pursue a fossil fuel-free investment strategy, replacing such investments with holdings in high-impact companies developing solutions to sustainability challenges. Examples include hybrid engine developers Valeo and Gilead Sciences, a...

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