Legal and General, a UK-based asset management firm that manages over $1.2 trillion in assets, will pull its investment from all companies who it perceives as failing to act on climate change.
Helena Morrissey, Head of Personal Investing, said: “There comes a time when talk is over, and it’s time to vote with our feet. Money talks as they say”. She further emphasised the need for the financial sector to band together and push for change through sustainable investments.
With another financial institution moving towards sustainable investment, has the tide finally turned within the financial sector? How is this likely to impact businesses whose profits are driven by activities that pollute and damage the environment?