ESG funds still invested in firms embroiled in Grenfell tragedy

Almost five years on, 17 UK-domiciled funds with an explicit mandate for promoting good ethical, social and governance practices remain invested in companies whose employees have admitted wrongdoing. Using Morningstar data, PA's sister title Investment Week has found that each of these funds have an allocation to one or more of three companies, each of which engaged in malpractice related to the cladding used on Grenfell Tower, which has been cited as dangerous and caused the fire to spread so quickly. Arconic is an industrial company whose employees have admitted to selling cladding ...