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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Companies Criticized for Lack of Concern for Climate Change

07/03/2019

According to the Environmental Leader, the Legal and General Investment Management (LGIM) ranking has excluded six companies from the Future World Fund 2019. The designated enterprises are ExxonMobil Corporation, Hormel Foods, Korean Electric Power Corporation, Kroger and MetLife. These companies join China Construction Bank, Rosneft Oil, Japan Post Holdings, Loblaw and Cisco Corporation. These companies have yet to take substantive actions to warrant a reinstatement in the Future World Fund.

Legal and General Investment Management represents asset managers and global investors concerned with compliance with the Paris Agreement on the Environment and governmental and state initiatives to address climate issues. To date, 80 companies are covered by the Climate Impact Pledge.

LGIM is influential in allocation of funds to large companies. The action by this consortium of investors indicates that environmental concern has become a metric in evaluating corporate governance and will ultimately influence both acquisition of capital and public image.


 
Copyright 2019 Simon M. Shane