LGIM to divest from four companies on ESG grounds as nine remain on exclusion list

US food retailer set to be reinstated

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LGIM CEO Michelle Scrimgeour
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LGIM CEO Michelle Scrimgeour

Legal & General Investment Management (LGIM) has identified four new companies to divest from in its latest Climate Impact Pledge report, on the basis that they have taken ‘insufficient action’ to address the risks from climate change, while nine companies remain on its exclusion list.

This year, LGIM will divest its holdings in Industrial and Commercial Bank of China, AIG, PPL Corporation and China Mengniu Dairy for "unsatisfactory responses to engagement and/or breaches of ‘red lines'...

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