Guy Opperman has stressed his opposition to divestment away from carbon-heavy sectors as a means of stewarding ESG-based finance and accelerating the transition to a net-zero economy by 2050.
Speaking at Incisive Media's Sustainable Investment Festival on Wednesday (23 June), the pensions and financial inclusion minister championed active stewardship as a way to prepare for upcoming regulations, as opposed to the more traditional, passive, divestment of so-called "sin stock" companies. From October, trust-based schemes with more than £5bn of assets - and all authorised master trusts - will be required to report on climate change risks in line with the recommendations of the Task Force on Climate-related Financial Disclosures. Yesterday, the Financial Conduct Authority (FCA) p...
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