Companies Can Deny Climate Change But They Can't Shun The Capital Markets
Denying climate change is one matter. But forsaking the capital markets is another, which is why the United Kingdom’s largest asset manager is pointing out those companies that it considers to be environmental “laggards.”
While the current White House is giving short shrift to climate science, the institutional investors are raising the profile of those companies that they determine to be the forerunners and stragglers. Those investors have been effective in getting companies to listen and to act, although critics of their strategies say that the corporate fiduciaries must act in the financial interest of their participants.
“Our Climate Impact Pledge showcases that engagement can be a powerful tool if it is consequential,” Meryam Omi, head of sustainability and responsible investing at Legal and General Investment Management said. “Talks without action are no longer fit for purpose given the urgency to address climate change. We are enormously encouraged by the progress made by many of the companies.”Read Full Article - Forbes, April 3, 2019