States investment in fossil fuel and coal companies (FOI)

Request

A

A list of fossil fuel companies (oil and gas) that the States pooling arrangement invests in as part of the Common Investment Fund ('CIF') as well as any in the Public Employees Contributory Retirement Scheme (PECRS). Examples of fossil fuel companies would be Chevron, BP, ExxonMobil.

B

A list of any coal companies that the States pooling arrangement invests in as part of the Common Investment Fund ('CIF') as well as any in the PECRS. Examples of coal companies would be Glencore Plc and Anglo American.

C

Could you please also provide a breakdown of the amounts invested in each of those fossil fuel and coal companies?

If you are unable to provide the information for part 'C' please just provide part 'A' and 'B' for now.

Response

A

The CIF holds over 2,000 direct equity holdings. Identifying a firm’s primary industry is based upon their definition per the FTSE Industry Classification Benchmark (‘the Index’).

‘Oil and Gas’ is a defined industry by the Index, companies in which the CIF invests, as at 31 December 2017, identified as primarily engaged in the ‘oil and gas’ sector are as follows:

Oil and gas sector investments

B

’Coal’ is a defined industry by the Index, companies in which the CIF invests, as at 31 December 2017, identified as primarily engaged in the ‘coal’ sector are as follows:

Please note the examples provided are not deemed to be coal companies per the Index, Glencorp Plc and Anglo American are defined as primarily engaged in the ‘mining’ sector and so have not been included.

C

Breakdowns of values invested can be found in answers ‘A’ and ‘B’ above.

Information relating to the Public Employees Contributory Retirement Scheme (PECRS) does not fall within the definition of information held by the Treasury for the purposes of the Freedom of Information (Jersey) Law 2011.