The Church of England’s powerful investment arm is to “flex its muscles” and start exerting significant pressure on companies it believes have a poor record concerning climate change, the head of the fund has told Financial News in an exclusive interview. The Church Commissioners for England, which took on oil giant ExxonMobil over its stance on carbon emissions, has appointed Hermes EOS, the specialist engagement firm, and hired two staff to enable it to hold more of the world’s largest companies to account. A further appointment...
The Church Commissioners for England, the investment arm of the Church of England, has revealed plans to exert more pressure on firms with poor climate change records. Loretta Minghella, head of the £8.2bn ($10.2bn) fund, said it had hired Hermes EOS to help it "flex when particular issues arise". She said: "We are looking at a range of options including asking companies that have been found guilty in court cases or by regulators to pay compensation and we will be working closely with other investors who may