News Digest Item
25 Oct 2018

RWE responds to criticism from pension fund


In an open letter published in the WirtschaftsWoche, Gunhild Grieve, head of investor relations at German utility RWE, refutes the advice that investors should get rid of “toxic coal stocks”. The suggestion had been made by Jan Erik Saugestad, CEO of Norway’s pension fund Storebrand, in an earlier article in the same magazine. Grieve points out that RWE had “invested heavily” to replace CO2-intensive power stations with modern ones, and had reduced its emissions by 27 percent between 2012 and 2017. She also says that through the asset swap with E.ON, RWE would receive the renewables business of E.ON and innogy, turning “RWE into a leading supplier of renewable energy”. The company wants to invest up to 1.5 billion euros annually in the expansion of renewables, Grieve writes.

Read the letter in German here.

For background, read the CLEW dossier Utilities and the energy transition.

All texts created by the Clean Energy Wire are available under a “Creative Commons Attribution 4.0 International Licence (CC BY 4.0)” . They can be copied, shared and made publicly accessible by users so long as they give appropriate credit, provide a link to the license, and indicate if changes were made.

Journalism for the energy transition

Get our Newsletter
Join our Network
Find an interviewee