Investment Manager LGIM Divests From Glencore Over Coal Business

Legal & General Investment Management LGIM is divesting shares in Glencore from its ESG funds over concerns that the mining giant doesn’t have a path to net zero amid continued thermal coal production. Legal & General L&G has expanded its climate engagement reach and, as part of the engagement with consequences, comes the decision that LGIM is divesting from Glencore, L&G said in a statement on Wednesday.

44% stake in Glencore, which is currently worth about $325 million, according to LSEG data cited by Reuters. Glencore’s current targets and ambition are to achieve net zero emissions by 2050, subject to a supportive policy environment. Despite the ambition, Glencore has been called out by campaigners for its coal output and trade and coking coal assets. In 2020, Norway’s $1.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Slot to unleash Liverpool £304m investment after FSG shocked by manager planOne of the key reasons for appointing Arne Slot as Jurgen Klopp's successor was that his arrival negated the need to rip up the Liverpool blueprints
Source: EchoWhatsOn - 🏆 74. / 59 Read more »

Sale of steelworks land funds £12m investment in CorbyThe 99-acre former steelworks site in Corby will become a 'campus-style' logistics hub.
Source: BBCNorthampton - 🏆 32. / 68 Read more »