Legal and General plan to investment in companies

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  • 24 Apr 2018 12:00 AM
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Legal and General Plan to Rescind Investments Based on Companie’s Climate Change Record

The head of personal investing at the $1.2 trillion fund manager Legal and General says she plans to rescind investments in companies that haven’t worked at reducing climate change and that she’s lobbying other fund managers to follow suit. At a conference Helena Morrissey suggested that individual investors are becoming increasingly wary of putting their money in the market as they fear companies will act in ways that run counter to the investor’s own moral beliefs. To push the corporate world in the right direction, she says, the company will be "naming and shaming" those who have failed to act as it pulls it funding. "There comes a time when talk is over, and it’s time to vote with our feet. Money talks as they say," she said. "Legal and General runs almost a trillion pounds of money so we are doing a lot with that. But if we add all our trillions together, we can certainly drive change."

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