A new list of the ‘Top 5’ ESG performers, which includes tobacco, big pharma and a mining giant, has divided market opinion.
The list was published last week by UK-based financial services firm Hargreaves Lansdown, and is based on data from Refinitiv - a subsidiary of the London Stock Exchange Group. It focuses on constituents of the FTSE100, and identifies British American Tobacco, Glencore, AstraZeneca, GlaxoSmithKline and the Coca-Cola Hellenic Bottling Company as the most highly-rated companies on environmental, social and governance factors.
Hargreaves Lansdown, which manages more than £120bn of retail investment, told RI that the list was taken straight from Refinitiv and was not the result of any further analysis.
But the findings have attracted backlash on social media, with Duncan Grierson, CEO and Founder of green investment platform Clim8 Invest branding them a “joke”.
“ESG as a filter is a nonsense if British American Tobacco …