National Pension Service Delays 'Coal Divestment' Investment Discussion... To Reconsider at Next Month's Fund Committee Meeting

[Asia Economy Reporter Park So-yeon] The National Pension Fund Management Committee reviewed a plan to exclude investments in coal industry companies but failed to reach a conclusion and decided to reconsider it at next month's committee meeting.

On the 30th, the National Pension Fund Management Committee held the 5th Fund Management Committee meeting of 2021 and reviewed the 'Introduction Plan for National Pension Fund Climate Change Response Investment Restriction and Exclusion Strategy,' but did not reach a conclusion and decided to re-discuss it.

A National Pension official stated, "Many committee members agreed on the need to cooperate with international carbon reduction policies responding to climate change and the necessity of efforts to reduce carbon emissions," adding, "Various opinions were raised regarding the method of introducing the investment restriction and exclusion strategy and its applicable sectors, and these will be organized and resubmitted at the next committee meeting."

The National Pension plans to continuously discuss specific implementation measures at the committee by referring to permanent research and cases of overseas pension funds to establish the scope and criteria of the coal industry to which the investment restriction and exclusion strategy will apply.

At the meeting, the committee also reviewed and approved measures to revitalize the operation of the Alternative Investment Subcommittee of the Fund Management Headquarters, which has been operating since May 2019.

They plan to rationalize the review requirements of the Alternative Investment Subcommittee, expanding the previously limited application to private equity fund investments to include real estate and infrastructure investments in the future.

Additionally, ahead of the scheduled establishment of the '2022-2026 Medium-Term Asset Allocation Plan' in May, the committee received an interim report on the 'Status of Establishing the 2022-2026 Medium-Term Asset Allocation Plan.'

Reflecting today's committee discussions, the final '2022-2026 Medium-Term Asset Allocation Plan' is scheduled to be established at the next committee meeting.

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