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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Green investment funds pushing money into fossil fuel firms, research finds

ESG United States BlackRock State Street Bonds Coal Common Wealth Legal General Oil
huge heaps of coal at a coalmine
The new findings highlight the difficulties faced by savers who want to avoid investing in fossil fuels such as oil, gas and coal. Photograph: David Gray/Reuters

Investment funds branded as green or socially responsible are being used by some of the world’s largest asset managers to invest hundreds of millions of pounds in fossil fuel companies, according to a report.

The research by the Common Wealth thinktank showed that the US fund managers BlackRock and State Street and the UK-based Legal & General were among asset managers to use funds with an “environment, social and governance” (ESG) label to invest in fossil fuel firms.

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