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Rosneft is a laggard on climate change, says LGIM
Legal and General Investment Management (LGIM) has stated it'll take motion towards corporations that aren't addressing the dangers of climate change.
LGIM, one of many greatest funding funds in Europe, stated it could exclude offending corporations from its Future World index fund.
Where these corporations featured in its different fairness funds, it could vote towards re-electing the chairs of their boards.
China Construction Bank and Russia's Rosneft had been among the many worst, it stated.
"China Construction Bank remains the world's largest funder of coal mining and plants," LGIM stated.
"While the company has increased its lending to green projects, it does not disclose the total [greenhouse gas] emissions associated with its business."
Rosneft, the Russian oil large, was branded a laggard for producing a 144-page sustainability report that didn't point out "climate change" as soon as.
"This provides little reassurance that the company is planning for a world that must use less of its main product," LGIM stated.
LGIM's Future World vary of investments additionally consists of the primary fund aimed toward encouraging gender variety amongst UK corporations, the Gender in Leadership UK Index Fund (GIRL), which was launched final month.
Among the corporations that LGIM considers leaders on climate change is Nestle, which has set targets to cut back greenhouse gases by 2020 according to the Paris Agreement.
The meals large discloses these targets and the way it's performing towards them.