Vanguard refuses to end new fossil fuel investments

The world’s second-largest asset manager Vanguard has refused to stop new investments in fossil fuel projects and end its support for coal, oil and gas production. Chief executive Tim Buckley said the group, which manages $8.1tn for more than 30mn investors and is the largest investor in coal companies globally, was determined to safeguard its clients from climate risks but this would not require it to end new commitments to fossil fuel industries.
Read more: https://www.ft.com/content/435a9384-8711-4b99-95a8-d55e962343c6?source=Snapzu