National Trust to sell oil, gas and coal investments
The National Trust is planning to sell all of its investments in oil, coal and gas companies according to media reports. The charity says it is taking the decision following the ‘limited progress’ made by fossil fuel firms in switching to alternatives deemed better for the environment.
The Trust, which is understood to have over £1bn invested in stock markets, with around 4% invested in fossil fuel producers, has set a three-year timescale for complete divestment.
Meanwhile, according to The Times, FTSE Russell, the financial indices firm behind the FTSE 100, has redefined oil and gas companies and labeled them ‘non-renewable energy’. The reclassification will come into effect next year.