LGIM is the UK’s largest fund manager with £1.2 trillion of assets
Legal & General Investment Management (LGIM), the UK’s largest fund manager, has emerged as one of the shareholders objecting to Royal Dutch Shell PLC’s (LON:RDSB) climate plans, saying they do not go far enough.
LGIM, the investment arm of Legal & General PLC (LON:LGEN) and with £1.2 trillion of assets, voted against the oiler’s own energy transition strategy at its AGM last week.
“We remain concerned that the strength of interim targets (up to 2035) and disclosed plans for oil and gas production fall short of the level of ambition required for the company to credibly claim alignment with a 1.5C pathway,” the investor told
10 March 2021 | 08:37am
StockMarketWire.com - UK stocks opened lower on Wednesday after large mining companies were hit by a drop in the price of iron ore.
At 0824, the benchmark FTSE 100 index was down 30.09 points, or 0.5%, at 6,700.25.
BHP fell 2.6% to £21.435 and Rio Tinto fell 4.3% to £55.68.
In corporate news, insurance group Legal & General shed 0.4% to 280.9p, having reported a 15% fall in annual profit driven by pandemic-related claims.
Legal & General held its dividend steady at 17.57p per share.
Food delivery service Just Eat Takeway slipped 0.2% to £68.30 as it posted a deeper annual loss of €147 million after a rise in revenue was offset by higher spending.