Responsible Investment News

Managers adopting low-or-no carbon strategies to mitigate risks

Martin Currie Investment Management, for instance, which runs A$12 billion in Aussie equities, as well as A$11 billion in global, emerging markets and specialist equities strategies, has recently extended its carbon exclusion policy on its Ethical Income strategy and Ethical Income fund range available via Legg Mason Australia.

Martin Currie updated its partial exclusion policy in the Ethical Income funds from 20 per cent of EBITDA – meaning excluding companies which had more than that proportion of earnings from thermal coal – to full exclusion of companies directly involved in thermal coal production or distribution. According to Will Baylis, Melbourne-based portfolio manager who oversees ESG strategies in Australia and NZ, the move, on April 1 this year, followed consultation with clients and what the manager believes is market sentiment.

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