Legal & General fund boosts stakes in firms it shamed over climate crisis
by Kalyeena Makortoff Banking correspondent from on (#4TSXZ)
Exclusive: UK's biggest fund manager LGIM ploughed extra 285m into firms such as ExxonMobil
The UK's biggest fund manager has spent nearly 300m this year increasing its shareholdings in companies it named and shamed for dragging their heels on climate action.
Legal & General Investment Management (LGIM), which has been one of the most outspoken fund managers over the climate crisis, announced in June it was cutting five more companies from its environmentally and socially conscious funds for not doing enough to mitigate the climate emergency.
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