The US arm of Legal & General Investment Management (LGIMA) has teamed up with the Environmental Defense Fund (EDF) to “define science based, sector-specific climate leadership expectations”.
In an EDF blog yesterday, the influential environmental body revealed that the expectations will underpin LGIMA’s corporate engagement efforts in a bid to push companies to produce “tangible results” on climate. Initially, the partnership will focus on Oil & Gas and transportation firms.
LGIMA and EDF also unveiled longer-term plans to “explore the creation of Net Zero-aligned funds [to] deliver strong returns at competitive costs while also driving down emissions”.
LGIM, which manages assets of around $1.7tn, supported 100% of “climate-critical resolutions” tabled during the 2020 AGM season, according to EDF’s blog.
Last month it revealed