A UK firm managing assets of $1.2 trillion will pull its investment from companies that fail to act on climate change.
Helena Morrissey, head of personal investing at Legal and General, said they will be “naming and shaming” these companies next month.
“There comes a time when talk is over, and it’s time to vote with our feet… Money talks as they say,” said Morrissey.
LONDON – Legal and General, which oversees more than $1.2 trillion in assets, said it would punish companies with a bad record on climate change and strip them of their funding.
Helena Morrissey, head of personal investing, said the firm will be “naming and shaming” companies that have failed to act on climate change next week, and pull investments from those companies.
Many individuals don’t invest in the market because of fear their money will be used for purposes they disagree with, Morrissey said.
“Legal and General runs almost a trillion pounds of money so we are doing a lot with that. »