FFC Asks Managers To Assess Climate Risk In Investments

Friends Fiduciary has asked its money managers to assess how their investments could affect climate change and to evaluate climate risk in the investment process.  The letter, from Richard Kent, Chief Investment Officer, asks managers to “understand the strategies our companies are using to manage climate risk.”   While Friends Fiduciary has not chosen to divest from fossil fuels in its Consolidated Fund, its Environmental Social and Governance screening criteria favors companies with better track records on these factors. This letter clearly communicates to all of FFC’s managers the importance of these concerns for FFC and its constituent investors and further elevates these concerns within the traditional investment arena.  Executive Director, Jeff Perkins, states that “when we engage with companies in shareholder advocacy we’re asking them how they are assessing climate risk in their operations, supply chains and invested assets – we’re asking our managers to do the same as part of their investment selection process”. Click here for letter text.