Environment
Step Up on Climate Change or Risk Divestment: Billionaire Warns Companies
(Bloomberg) –TCI Fund Management Ltd., the firm run by billionaire hedge fund manager Christopher Hohn, warned companies in its portfolio to step up their climate-change action or risk divestment.
The London-based money manager, which oversees more than $30 billion of assets, sent letters to firms including Airbus SE, Charter Communications Inc. and Moody’s Corp. demanding better disclosure on greenhouse gas emissions, according to its website. The Financial Times reported on the letters earlier.
“We expect companies in which we invest to have a credible, publicly disclosed plan,” said the letters dated Nov. 30. “We will also evaluate divestment where a portfolio company refuses to disclose its emissions.”
Read: Top polluters head to global climate talks. Here’s what to expect
TCI’s warnings come as investors ramp up scrutiny of their holdings’ environmental impact. Hohn has personally and through the Children’s Investment Fund Foundation donated 200,000 pounds ($258,000) to Extinction Rebellion, which organized mass protests in central London in a push to urge politicians to reach zero emissions worldwide by 2025.
Read: Those Amazon returns? They’re killing the environment.
The money manager is known as an activist investor, taking stakes in companies and agitating for change to boost their share prices. One recent campaign involved seeking to revamp the management at the London Stock Exchange Group Plc.
-
Economy2 weeks agoNumber of Workers in GCC Countries Increase From 2021 to 2025
-
OER Magazines3 weeks agoDossier Oman: Banking, Finance & Insurance Special Edition
-
Banking & Finance2 months agoSohar International Contributes OMR100,000 to Support Those Affected by Al Masarrat Weather Conditions
-
OER Magazines2 months agoOER, March 26
-
Oman1 week agoREVIEW: WHOOP and the Rise of Performance Luxury
-
News2 months agoReal Estate Price Index in Oman Grows By 13.9%
-
Economy1 month agoOPINION: War, Climate, and the Costs We Choose Not to See
-
News1 month agoHussain Al Maimani Joins MHD Infotech as Senior General Manager
