The Energy Mix

Top Menu

  • About
  • Latest Digest/Archive
  • Partners
  • Which Energy Mix is this?
  • Contact

Main Menu

  • News Archive by Category
    • Climate & Society
      • Carbon Levels & Measurement
      • Carbon-Free Transition
      • Climate Action/”Blockadia”
      • Climate Denial & Greenwashing
      • Climate Policy/Meetings/Negotiations
      • Culture, Curiosities, & Humour
      • Demographics
      • Energy Politics
      • Energy Subsidies
      • Energy/Carbon Pricing & Economics
      • Finance & Investment
      • First Peoples
      • Insurance & Liability
      • International Agencies & Studies
      • Jobs & Training
      • Legal & Regulatory
      • Media, Messaging, & Public Opinion
      • Methane
      • Travel, Leisure & Recreation
    • Climate Impacts & Adaptation
      • Biodiversity & Habitat
      • Drought, Famine & Wildfires
      • Food Security
      • Forests & Deforestation
      • Health & Safety
      • Heat & Temperature
      • Human Rights & Migration
      • Ice Loss & Sea Level Rise
      • International Security & War
      • Severe Storms & Flooding
      • Soil & Natural Sequestration
      • Water
    • Demand & Distribution
      • Air & Marine
      • Auto & Alternative Vehicles
      • Batteries/Storage
      • Buildings
      • Cities
      • Electricity Grid
      • Energy Access & Equity
      • Off-Grid
      • Petrochemicals & Plastics
      • Supply Chains & Consumption
      • Transit
      • Walking & Biking
    • Jurisdictions
      • Africa
      • Arctic & Antarctica
      • Asia
      • Australia
      • Brazil
      • Canada
      • China
      • Europe
      • India
      • International
      • Mexico, Caribbean & Latin America
      • Middle East
      • Oceans
      • Small Island States
      • South & Central America
      • Sub-National Governments
      • United States
    • Non-Renewable Energy
      • CCS & Negative Emissions
      • Coal
      • Nuclear
      • Oil & Gas
      • Pipelines/Rail Transport
      • Shale & Fracking
      • Tar Sands/Oil Sands
    • Opinion & Analysis
    • Renewable Energy
      • Bioenergy
      • Demand & Efficiency
      • General Renewables
      • Geothermal
      • Hydrogen
      • Hydropower
      • Research & Development
      • Solar
      • Wave & Tidal
      • Wind
  • Special Reports
    • Alberta’s Bitumen Pipe Dream
    • Canada’s Drive to Net Zero
    • Carbon Farming
    • City and Sub-National Action
    • Drawdown
    • Drive to 1.5
    • 26-Week Climate Transition Program for Canada
    • America’s Electoral Climate 2020
    • Canada’s Climate Change Election 2019
    • The Energy Mix Yearbook 2018
      • Climate Extremes
      • Fossils Go For Broke
      • Renewables (R)Evolution
      • Electric Vehicles
      • Canada’s Contradiction
      • COP24
      • Pipeline Politics
      • Jobs and Just Transition
      • Cities and Sub-Nationals
      • Finance and Divestment
      • Climate Litigation
  • Webinars & Podcasts
  • About
  • Latest Digest/Archive
  • Partners
  • Which Energy Mix is this?
  • Contact
  • Subscribe
  • Donate

logo

  • News Archive by Category
    • Climate & Society
      • Carbon Levels & Measurement
      • Carbon-Free Transition
      • Climate Action/”Blockadia”
      • Climate Denial & Greenwashing
      • Climate Policy/Meetings/Negotiations
      • Culture, Curiosities, & Humour
      • Demographics
      • Energy Politics
      • Energy Subsidies
      • Energy/Carbon Pricing & Economics
      • Finance & Investment
      • First Peoples
      • Insurance & Liability
      • International Agencies & Studies
      • Jobs & Training
      • Legal & Regulatory
      • Media, Messaging, & Public Opinion
      • Methane
      • Travel, Leisure & Recreation
    • Climate Impacts & Adaptation
      • Biodiversity & Habitat
      • Drought, Famine & Wildfires
      • Food Security
      • Forests & Deforestation
      • Health & Safety
      • Heat & Temperature
      • Human Rights & Migration
      • Ice Loss & Sea Level Rise
      • International Security & War
      • Severe Storms & Flooding
      • Soil & Natural Sequestration
      • Water
    • Demand & Distribution
      • Air & Marine
      • Auto & Alternative Vehicles
      • Batteries/Storage
      • Buildings
      • Cities
      • Electricity Grid
      • Energy Access & Equity
      • Off-Grid
      • Petrochemicals & Plastics
      • Supply Chains & Consumption
      • Transit
      • Walking & Biking
    • Jurisdictions
      • Africa
      • Arctic & Antarctica
      • Asia
      • Australia
      • Brazil
      • Canada
      • China
      • Europe
      • India
      • International
      • Mexico, Caribbean & Latin America
      • Middle East
      • Oceans
      • Small Island States
      • South & Central America
      • Sub-National Governments
      • United States
    • Non-Renewable Energy
      • CCS & Negative Emissions
      • Coal
      • Nuclear
      • Oil & Gas
      • Pipelines/Rail Transport
      • Shale & Fracking
      • Tar Sands/Oil Sands
    • Opinion & Analysis
    • Renewable Energy
      • Bioenergy
      • Demand & Efficiency
      • General Renewables
      • Geothermal
      • Hydrogen
      • Hydropower
      • Research & Development
      • Solar
      • Wave & Tidal
      • Wind
  • Special Reports
    • Alberta’s Bitumen Pipe Dream
    • Canada’s Drive to Net Zero
    • Carbon Farming
    • City and Sub-National Action
    • Drawdown
    • Drive to 1.5
    • 26-Week Climate Transition Program for Canada
    • America’s Electoral Climate 2020
    • Canada’s Climate Change Election 2019
    • The Energy Mix Yearbook 2018
      • Climate Extremes
      • Fossils Go For Broke
      • Renewables (R)Evolution
      • Electric Vehicles
      • Canada’s Contradiction
      • COP24
      • Pipeline Politics
      • Jobs and Just Transition
      • Cities and Sub-Nationals
      • Finance and Divestment
      • Climate Litigation
  • Webinars & Podcasts
Advanced Search
AsiaCanadaClimate Action/"Blockadia"CoalEuropeFinance & InvestmentOil & Gas
Home›Jurisdictions›Asia›Investment Fund Demands Board Chairs’ Resignations for Lagging on Climate

Investment Fund Demands Board Chairs’ Resignations for Lagging on Climate

June 13, 2018
June 13, 2018
 
76
1
Share:
  •  
  • 13
  •  
  •  
  •  
  •  
  •  
    13
    Shares
  Print This Story
skeeze / Pixabay

The board chair of Loblaw Companies is one of eight in the crosshairs of Britain’s largest asset manager, Legal & General Investment Management, which is demanding senior leadership resignations at companies it says have failed to confront the climate challenge.

LGIM, an arm of the Legal & General insurance company, is also targeting the chairs of China Construction Bank, Dominion Energy, Japan Post Holdings, Occidental Petroleum, Rosneft Oil, Subaru, and Sysco Corporation. It will also sell off shares in the eight companies held in its Future World index fund.

Like this story? Subscribe to The Energy Mix and never miss an edition of our free e-digest.

SUBSCRIBE

“LGIM said it had already begun to use the full voting power of all of its shares to vote against the re-election of the chairmen of each of the eight companies at their annual meetings,” Reuters reports.

“After spending a year engaging with 84 of the world’s biggest firms over their climate strategies, LGIM, which manages nearly £1 trillion (US$1.3 trillion) in assets, said some were not doing enough to prepare for a low-carbon economy,” the news agency explains. “While some companies were ‘excelling’, others were ‘failing to do the bare minimum’, with a number not even responding to requests to engage” at LGIM’s request.

“We’re going to keep ratcheting up the minimum standards and our expectations from the companies,” vowed LGIM’s head of sustainability and responsible investment strategy, Meryam Omi. “It’s not a finished business.”

An email response to Reuters suggested the pushback on Loblaw, a supermarket and drug store chain that says it employs nearly 200,000 Canadians, may have been a case of broken telephone.

“Loblaw said it believed LGIM was referring to a mid-May request for information about its environmental commitments to which it had yet to reply,” Reuters states. “The Canadian firm said it intended to do so, highlighting commitments including a detailed plan to reduce its carbon footprint by 30% by 2030. “

LGIM singled out China Construction Bank and Russia’s Rosneft as two of the worst offenders, BBC notes. “China Construction Bank remains the world’s largest funder of coal mining and plants,” the equity fund stated. “While the company has increased its lending to green projects, it does not disclose the total emissions associated with its business.”

Rosneft, meanwhile, produced a 144-page sustainability report that failed to mention “climate change” even once. “This provides little reassurance that the company is planning for a world that must use less of its main product,” LGIM wrote.

Share:
  •  
  • 13
  •  
  •  
  •  
  •  
  •  
    13
    Shares
  Print This Story

Find more stories about
AsiaCanadaClimate Action/"Blockadia"CoalEuropeFinance & InvestmentOil & Gas

    1 comment

    1. Investment Fund Demands Board Chairs’ Resignations – RGR Travel Musings 6 July, 2018 at 11:14 Reply

      […] Source: Investment Fund Demands Board Chairs’ Resignations for Lagging on Climate | The Energy Mix […]

    Leave a reply Cancel reply

    Recent Posts

    • EXCLUSIVE: Study Shows Governments’ Oil and Gas Revenue Crashing as Decarbonization Takes Hold
      EXCLUSIVE: Study Shows Governments’ Oil and Gas Revenue Crashing as Decarbonization Takes Hold
      February 12, 2021
    • Countries Must Cut Emissions 80% Beyond Paris Pledges, but Study Author Sees Glimmers of Hope
      Countries Must Cut Emissions 80% Beyond Paris Pledges, but Study Author Sees Glimmers of Hope
      February 12, 2021
    • Fund Low-Income Building Retrofits in Upcoming Budget, Efficiency Canada Urges Ottawa [Sign-Ons]
      Fund Low-Income Building Retrofits in Upcoming Budget, Efficiency Canada Urges Ottawa [Sign-Ons]
      February 12, 2021
    • Big City Mayors Cheer as Trudeau Offers Permanent Federal Transit Funding
      Big City Mayors Cheer as Trudeau Offers Permanent Federal Transit Funding
      February 12, 2021
    • India Was Forewarned About Himalayan Flood Disaster Risks
      India Was Forewarned About Himalayan Flood Disaster Risks
      February 12, 2021

    News Feed

    Top News

    • Enviros Warn California Blackout Prevention Plan Could Drive Up Gas Consumption
      February 11, 2021
    • London Hedge Funds Bet on US$100 Carbon Price
      February 11, 2021

    Read More

    Carbon-Free Transition

    • London Hedge Funds Bet on US$100 Carbon Price
      February 11, 2021
    • Smart Cameras on Wind Turbines Cut Eagle Deaths by 82%
      February 11, 2021

    Read More

    Canada

    • Alberta Looks to Lithium in Oil Deposits to Stock Electric Vehicle Batteries
      February 11, 2021
    • Students Demand Faster Action After UVic Moves $80 Million to Low-Carbon Investment Fund
      February 11, 2021

    Read More

    U.S.

    • Enviros Warn California Blackout Prevention Plan Could Drive Up Gas Consumption
      February 11, 2021
    • U.S. Fossil Utilities Fund Republicans in Georgia Runoff Elections
      February 11, 2021

    Read More

    International

    • Students at France’s Elite Universities Want Climate at Heart of Curriculum
      February 11, 2021
    • South Africa Aims to Buy 6,800 MW of Renewables this Year
      February 11, 2021

    Read More

    • About the Energy Mix
    • Contact
    • Privacy Policy and Copyright
    Copyright 2020 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.