L&G calls out 11 companies over climate crisis, but is it enough?

The firms will be barred from the asset manager’s Future World range and it will use its voting clout against their boards

It will take more than L&G’s brolly to shelter us from the climate crisis but at least it’s trying (Reuters)

With more than £1 trillion under management, Legal & General Investment Management (LGIM) has global clout. As such, its decision to publicly slap down 11 international companies over climate change matters.

The asset manager has a particular specialism in funds that passively track stock market indices, so it can’t avoid investing in them, although they will not be eligible for its £5bn Future World range. However, it can, and says it will, use its voting clout in opposition to the motions their boards submit.