Another day, another climate change fund. Well that’s how it seems today at Greenbang Towers.
This time Virgin Money is doing all the green-fund making. The company claims:
Unlike typical ‘green’ funds, The Virgin Climate Change Fund can invest in all industry sectors but will only invest in companies with lighter than average environmental footprints for their sector. This ‘lighter footprint’ strategy aims to capitalise on research which suggests that companies with a strong environmental focus can outperform their ‘dirtier’ competitors.
Virgin has teamed up with asset management firm GLG Partners, who will act as the fund advisors, and environmental research organisation Trucost PLC, who wrote the UK Government’s environmental reporting guidelines, published in 2006.