LGIM strips gold mining ETF of ESG label

Downgraded to Article 6

Legal & General Investment Management has downgraded the firm’s gold mining ETF from Article 8 to Article 6, stripping it of its ESG credentials.

In a shareholder notice, LGIM said from today (28 November), the L&G Gold Mining UCITS ETF would be cutting the ETF's commitment to ESG following a review. The notice said this was "on the basis that the fund no longer promotes the environmental or social characteristics that are built into the index tracked by the fund". It added the move would not "result in any changes to the fund's investment policy or the index tracked by the fund". Aviva Investors and LGIM back cost of living support campaign LGIM has been contacted for comment. The arm of LGIM that runs its ETF bus...