Scottish Widows doubles divestment from firms 'failing' on ESG

£1.5bn commitment builds on almost £1.4bn worth of previous exclusions

Martin Richmond
clock • 2 min read

Scottish Widows has announced a further £1.5bn contribution towards its divestment policy as it strengthens its commitment to its environmental goals.

The additional £1.5bn announced today (28 March) is on top of previous divestment commitments, which total around £1.4bn. The new divestment policy includes a major commitment to divest from tobacco firms, as the company has announced they will not invest in any company that makes more than 10% of its revenue from tobacco. This will exclude all tobacco manufacturers and distributors. The provider has outlined that tobacco holdings are incompatible with its strategy as an investor and pension provider. Alongside its commitment to divest in the tobacco industry, Scottish Widows has also...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

JP Morgan AM cuts ties with climate change action group
ESG

JP Morgan AM cuts ties with climate change action group

Climate Action 100+

Eve Maddock-Jones
clock 15 February 2024 • 1 min read
Enter now for Investment Week's Sustainable Investment Awards 2024
ESG

Enter now for Investment Week's Sustainable Investment Awards 2024

Closing date of 6 April

Investment Week
clock 15 February 2024 • 3 min read
Liontrust hires sustainable investment analyst duo from Ninety One and abrdn
ESG

Liontrust hires sustainable investment analyst duo from Ninety One and abrdn

Connor Godsell and Linnea Bengtsson

Cristian Angeloni
clock 14 February 2024 • 1 min read
Trustpilot