Scottish Widows To Pull Out £440M Over ESG Concerns

Law360, London (November 10, 2020, 11:18 AM GMT) -- Scottish Widows has said it will pull £440 million ($582 million) in investments from companies that do not have adequate environmental, social and governance strategies as it seeks to protect its customers from financial risk.

The pension fund Scottish has said it will target businesses that fail to meet global standards on climate change and workers' rights.

The move to stop investing at least £440 million in companies that fail to live up to its so-called ESG standards means that it will no longer put money into businesses that derive more than 10% of their revenue from thermal coal or tar sands, such...

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