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European fund managers are casting an increasingly skeptical eye towards the oil industry, concluding that the industry’s financial future looks grim, according to a new survey published by a London-based organization today.
Just 18 percent of the responding fund managers, including representatives of firms based in the UK, France, Spain, and Italy, predicted that “oil companies will be good investments if their business is still focused on fossil fuels in five years’ time,” according to the survey, published by the UK Sustainable Investment and Finance Association (UKSIF) and the Climate Change Collaboration.
