Comment on Environment Agency invested £15m in ‘forever chemicals’
florge@feddit.uk 5 months ago
Feel like this it probably more on the pension fund managers than anything else. I remember reading that Saudi ARAMCO is wholly owned by two investment vehicles which are called something obvious like Big Oil Investing Co, but because these two companies are only an investment companies and fund managers do so little due diligence, a lot of ESG oriented investments end up indirectly investing in Saudi oil.
Jho@feddit.uk 5 months ago
I’m not really sure how much I blame EA in all this. Honestly, I don’t really understand how pension funds work.
Does EA have a lot of choice on what pension fund to use? Does any pension fund invest wholly ethically?
It’s certainly an issue that £15m that is given to the EA is ultimately used for purposes which go directly against what the EA does. There’s something going wrong which needs to be fixed, but I wouldn’t know what the answer would be.