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Fund Manager Assessing on CC

Fund Manager Assessing on CC 20 October 2020

Britain’s biggest fund manager expands engagement on climate (via Reuters)

By Simon Jessop

Britain’s biggest asset manager plans to increase the number of companies it assesses and engages with over climate change to help to accelerate global efforts to move to a low–carbon economy, it said on Wednesday.

Legal & General Investment Management (LGIM), part of insurer Legal & General LGEN.L, said it would increase the number of companies covered by its Climate Impact Pledge – a targeted engagement plan – to 1,000 from 100.

The group, which manages more than 1.2 trillion pounds in assets, said it would also make its climate ratings for companies available on its website.

“We thought it was really important that our own engagement framework really addresses this challenge of decarbonising very, very rapidly in the next 30 years,” said Meryam Omi, LGIM’s head of sustainability and responsible investment strategy.

Under the original pledge introduced in 2016, LGIM committed to engage with the largest companies across six sectors in which action was seen as crucial to help to meet the goals of the 2015 Paris Agreement on climate change.

Read the full news story here…