British pensions provider Scottish Widows will no longer invest in tobacco stocks and will cut back further on coal investments as it expands its responsible investment strategy, it said on Monday.
, said this added a further 1.5 billion pounds to its exclusions, bringing total divestments from firms deemed to pose a threat to the pension provider's environmental, social and governance goals to 3 billion pounds.
The firm said it would not invest in any company deriving more than 10% of its revenue from tobacco, which it said meant excluding all tobacco manufacturers and major distributors.
Scottish Widows, which has 190 billion pounds in assets under administration, also said it would lower the threshold for investing in firms extracting thermal coal and tar sands, the dirtiest of fossil fuels, to 5% of revenue from 10%.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Cannabis Company Cresco Labs To Acquire Columbia Care For $2 BillionIf the deal is completed, Cresco will become one of the country’s largest cannabis producers and retailers with over 100 dispensaries across 18 states
Les mer »
Brooklyn family of dead veteran suspects foul play from widow, seeks autopsyThe family of a deceased combat veteran suspects his widow caused his demise — and has convinced a judge to temporarily block his widow from cremating or burying his body.
Les mer »
NY State Comptroller Divesting Retirement Fund From RussiaNew York state’s $280 billion public pension fund will be getting rid of Russian investments, state Comptroller Thomas DiNapoli announced Friday; the pension has about $110 million invested in Russian companies
Les mer »
Freakwater and the Mekons unite to sing about coal’s dark, transatlantic legacy - Chicago Reader'Their original songs acknowledge mining’s disastrous environmental consequences as well as its social impact, and they also celebrate the triumphs of industry escapees such as actor Richard Burton, the son of a miner.'
Les mer »
Art Industry News: Damien Hirst, the World’s Richest Artist, Claimed Almost $2 Million From a Government Relief Fund + Other Stories | Artnet NewsPlus, the Venice Biennale names this year's jury, and our art critic has a new book, 'Art in the After-Culture,' out now.
Les mer »
Crypto Biz: Do you believe in Ethereum killers? Put your money where your mouth is, March 18–24You'll be able to easily invest in smart contract alternatives if you're an accredited investor thanks to Grayscale. The new fund (GSCPxE) will include exposure to Cardano, Solana, Avalanche, Polkadot, Polygon, Algorand and Stellar.
Les mer »