Khalid Azizuddin
-80x80.jpg "Vanguard warned over $300bn fossil exposure and ‘lack of clear climate policies’")
World’s second-largest asset manager is now the world’s largest investor in fossil fuels
Move comes ahead of new anti-greenwash ESG fund disclosure rules in July
The manager will vote against board chairs in 2022
No major G7 benchmarks is aligned with the Paris Accord’s 2°C temperature target
It will require the state’s main pension to divest an estimated $1.3bn of fossil fuel investments
It comes as a first-of-its-kind Chinese ESG bond index is launched in Luxembourg
Letter comes as lawmakers introduce ESG rules for financial advisors and workplace pensions
Move is at odds with other public pension funds in the state and NYC, which have committed to exiting fossil fuels
What do investors and lawyers think of the growing trend for banning or forcing divestment?
The study by Bahrain-based advisor will inform an ESG advisory service set to be launched in September