One of Britain’s biggest managers of ethical funds is to dump £20m of shares in fossil fuel companies in one of the biggest divestments so far because of climate change.
Shares in BHP Billiton, the Anglo-Australian mining giant, will be among those sold by BMO Global Asset Management’s range of “responsible” funds, which manage £1.5bn of assets. They were previously known as the “stewardship” funds, the first ethical funds launched in Britain.
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