Fidelity CEO Richards says divestment 'last resort' for active managers - reports

Passive funds 'never have that tension’

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Fidelity CEO Anne Richards
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Fidelity CEO Anne Richards

Anne Richards, chief executive of Fidelity International, has told Bloomberg the "threat of divestment" is a tool that active managers have over passive funds when it comes to sustainable investing.

Speaking to Bloomberg at Davos 2020, Richards said she had seen the industry "coming together" on environmental, social and governance (ESG), and sustainability over the past three or four years. "The fact that BlackRock is now lending its very considerable weight to that I think is really helpful and beneficial," she added in the interview. Last week, BlackRock CEO Larry Fink announced a series of actions to integrate sustainability into its investment offering, as he called it the "new standard" for investing. But asked by Bloomberg how to deal with passive investments, Richards ...

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