$1.2 Trillion Fund Manager Threatens to Withdraw Investment from Companies over Climate Change Non-Compliance
A London based company, Legal and General, responsible for the oversight of more than $1.2 trillion in assets, has decided to holds its cards close to its chest. They are now threatening to punish companies who have a less than impressive climate change record. The announcement comes in light of recent global attempts at harmonizing the environmentally conscious agenda.
In her speech made at a conference in London, Morrissey caught the attention of the media when she declared that “money talks”. This was after they had made concerted efforts to persuade companies to be on the right side of history. Since mere talks had failed to compel the said companies to act responsibly. According to them, environmental conservation efforts should be at the core of any company.
Morrissey insisted that it was high time the financial sector started working together in order to realize goals inspired by a higher calling. She mentioned that the need was greater, now more than ever to drive impactful change through sustainable investments. By investing in such projects, she believes that profits can still be realized by objectively looking at everything with a sense of purpose.
According to Morrissey, many individuals don’t see the need to invest in the markets out of fear that their money will be used for initiatives that they are not in agreement with. She believes that the fear stems from both from a moral perspective and holistic view of things.
As a remedy, she believes that sustainable investing presents a solution to curb such fears from coming to fruition. In addition, she opined that given the vast sums of money Legal and General runs, in the trillions of pounds range, they could do much more with those monies to impact society positively.
All the same, she believes that true change will only come once they are able to join forces with like-minded individuals and corporations. The theme will ideally be based on ways they can positively influence the world scene through environmental conservation efforts.
While many companies are currently engaged in the campaign towards the conservation of the environment, Legal and General might just be the first fund to act so boldly. By pulling investments based on a company’s poor environmental track record, they are challenging the status quo.
Notably, Legal and General is not the first fund to focus certain aspects of corporate culture. In the mix, are several other companies in the ESG (Environmental, Social, and Governance) space. Due to their growing voice in the scene, more investors are now showing a keen interest in ESG themed companies.
In 2017, between January and July, it is projected that investors sank about $3.5 billion into US-based retail ESG funds and ETFs. These figures leapfrogged previous sums in 2015, where the estimates were about $2.6 billion.
On average, 2017 saw about $9 trillion worth of ESG assets listed as a product. In addition, there was a notable hike in the value of the ESG assets on a global scale. Figures show that at the start of 2016, the assets were valued at about $23 trillion. The Global Sustainable Investment Review projected these figures to have considerably risen by about 25% since 2014.
More in Business
The Met Gala is so Much More Costly Than You Think — Here’s Every Expense Spent on The Event
The annual Met Gala is probably the most anticipated high-profile event in the world of the rich and famous…or at least...May 17, 2019
Chris Martin’s New Malibu Property is Every Beach Lover’s Dream Come True
Chris Martin is best known as the frontman of the popular British band, Coldplay. But he seems to be focussing his...May 15, 2019
Patty Duke Had a Rough Start at Life – See How She Finally Found Happiness
Young people today probably have no idea who the late actress Patty Duke was. In commemoration of her third death anniversary,...May 15, 2019
Rihanna Has Been Hinting About The Launch of This New Product and We All Missed It
Rihanna has never failed to surprise her fans with her music and iconic fashion style. That’s why it didn’t come as...May 15, 2019
The Obamas and Netflix Are Pairing Up to Give Us These Unique and Exciting Content
Years after their stint at the White House ended, everyone’s favorite power couple Barack and Michelle Obama are beginning to move...May 14, 2019
Brangelina Has Finalized Custody Agreements – Find Out Who The Six Jolie-Pitt Kids Are Coming Home With
Brad Pitt and Angelina Jolie made the world believe in love again after a wonderful and romantic 12-year relationship together. Now,...May 14, 2019
Coachella or Arichella? Why Ariana Grande Totally Owned the Desert Music Festival
Ariana Grande’s career proves to be unstoppable. After the back-to-back launch of her latest two albums and other recent ventures, the...May 13, 2019
The Upsetting Reason Why The Owners of The ‘Breaking Bad’ House Built a Fence on Their Property
It’s almost been six years since the last episode of the hit AMC series Breaking Bad aired but it seems like...May 11, 2019
Is It Really True That People Only Need Five Hours of Sleep to Be Successful? A New NYU Study Settles The Score
There’s no dispute that sleep is a vital human need to keep people in top mental, emotional and physical state. But...May 10, 2019