Legal & General Group (LGEN.L) Is Going To Liquidate Four Businesses Shares

At the beginning of 2020, the share price of Legal & General Group started to fall severely from 318.30 GBP to 138.60 GBP. The whole year, share prices remained low and in 2021, the company finally started to face good changes. On the 12th of July, it opened at 264.60 GBP and closed at 269.80 GBP exceeding the previous close by 1.70 GBP. The day’s range was from 269GBP to 270.60 GBP. The average volume is greater than the total volume by 11,2 GBP million. The EPS is 25.60. After determining that four businesses, including American International Group Inc., are not making adequate progress in addressing climate change concerns, Legal & General Investment Management will liquidate their shares in them. Industrial & Commercial Bank of China Ltd., Pennsylvania-based utility PPL Corp., and China Mengniu Dairy Co. will all be divested by the UK asset management, according to a statement released on Tuesday. The firms either offered “unsatisfactory replies” to LGIM’s climate queries or crossed “‘red lines'” about coal participation, carbon declarations, or deforestation, according to the report.

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The physical effects of global warmings, such as severe heat and rising seas, as well as the potential of a quick and disorderly transition away from fossil fuels, are major concerns for money managers. As a result, investment firms are putting more pressure on their portfolio companies to reduce emissions and prepare for a low-carbon future.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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