M&G’s green ‘pivot’ is welcome but it could still do better – especially with voting

The asset manager is moving in the right direction but lags behinds UK leaders like L&G and Aviva in ShareActions rankings and needs to be more active in using its votes, writes James Moore

M&G is part of an alliance promising to terminate all coal investments by 2040 (AP)

If ever you needed proof that sustainability is now part of the mainstream you need only consider M&G’s touting of its “pivot” towards sustainability in its first full year results as an independent company. 

The latter meant there was always going to be a lot to talk about but CEO John Foley nonetheless wanted to make clear this was high on his agenda. 

“As responsible stewards of £367.2 bn in assets under management and administration (AUMA), we are … pivoting the entire company to sustainable investing – a shift which we believe will benefit customers, clients and shareholders, as well as wider society and the planet,” he declared.