Major global investor drops US firms deemed climate crisis laggards
by Jillian Ambrose from on (#4HM1Q)
Legal and General Investment Management cuts companies including ExxonMobil
An ethical investment operation by the UK's largest asset manager has dumped shares in a string of US companies it has deemed climate crisis laggards, including oil giant ExxonMobil and insurer Metlife.
Legal and General Investment Management (LGIM) said it had cut five companies - ExxonMobil, Metlife, Spam maker Hormel Foods, US retailer Kroger and Korean Electric Power Corporation - from its umbrella of ethical investment funds worth a total of 5bn.
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