Eramet produces first lithium from Centenario plant in Argentina
Eramet becomes the first European company to produce lithium carbonate at an industrial scale.
Aviva Investors, one of Britain’s top asset managers, will divest from oil, gas, mining, and utility companies that do not meet its expectations on tackling climate change.
The London-based investor has written to the companies, calling on them to set net-zero emissions goals and integrate climate risks into their strategy, including their plans for capital expenditure, the Financial Times reported, citing chief investment officer for equities David Cumming.
Cumming told the paper that climate change poses a huge risk to capital markets and that it is a massive disruptor. He said divestment was the last thing Aviva wanted to do but that “we will do it.”
Aviva will divest across both its equity and credit portfolio if companies fail to meet expectations over the next one to three years, he said. Aviva declined to name the companies it is targeting.
Aviva Investors manages 355 billion pounds ($486 billion) and has stakes in 30 of the world’s largest oil, gas, mining and utilities companies, according to the Financial Times. Cumming said he expected other asset managers to increasingly consider divestment as a response to companies’ efforts on climate change.
(By Max Zimmerman)
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