ESG & Investing
Fund Managers in ‘Complete Shock’ After Sunak’s Green Pivot
- Impax CEO says policy now poses risks to investors in UK
- Tuesday’s green bond auction seen as first real market test
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Some of the world’s biggest green investors are voicing dismay and bewilderment as they struggle to digest the UK government’s stated intention to wind back key climate commitments.
“It was a complete shock,” said Ian Simm, founder and chief executive of London-based Impax Asset Management Group Plc, a low-carbon fund investor overseeing close to $50 billion in assets. Britain’s official policy now represents “a risk for anyone considering an investment in the UK that’s dependent on government policy,” he said.