Legal & General: climate offender

Legal & General is identified as the top UK coal investor, holding $7.2 billion in the sector as of January 2021. The document criticizes the company's weak exclusion thresholds and the fact that its passive assets, totaling $1 trillion, are not subject to coal exclusion policies, allowing continued investment in high-emitting companies like BHP Group.

• Legal & General is the leading coal investor in the UK, with holdings in the coal industry totaling $7.2 billion as of January 2021, representing over 20% of all UK investments in that sector.
• The company's coal exclusion policies are deemed insufficient because they use high revenue thresholds (20% for mining and 30% for power generation as an asset owner; 30% for mining in active portfolios for LGIM) that allow continued investment in diversified coal giants and developers.
• A significant gap in Legal & General's climate strategy is that its coal exclusion policy does not apply to the $1 trillion of assets managed passively.
• Despite a commitment to achieve net zero carbon emissions by 2050, Legal & General continues to invest in oil, gas, and coal expansion and maintains investments in BHP Group, one of the top 100 historical greenhouse gas emitters.

APA

admin (2021). Legal & General: climate offender. Reclaim Finance. https://reclaimfinance.org/site/en/2021/05/19/legal-general-uk-climate-offender/

Chicago

admin. Legal & General: climate offender. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/05/19/legal-general-uk-climate-offender/.

Wikipedia

{{cite press release |last1=admin |title=Legal & General: climate offender |publisher=Reclaim Finance |date=19 May 2021 |url=https://reclaimfinance.org/site/en/2021/05/19/legal-general-uk-climate-offender/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021legal, author = {admin}, title = {{Legal \& General: climate offender}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/en/2021/05/19/legal-general-uk-climate-offender/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }