Go to the website of London LGPS CIV and you will find a pretty worthy-looking organisation. The group manages London Local Government Pension Scheme assets for the London Boroughs and the City of London. It controls real money (think client funds to the tune of £45 billion ($85 billion), and it is very keen to do so sustainably. The group considers that “responsible investment is not only a moral imperative but an economic necessity.
” It’s a signatory to the United Nations-backed Principles for Responsible Investment. It’s targeting net zero by 2040, and its chief executive, Dean Bowden, makes a big deal out of the group’s “key stewardship priority themes”: climate change, diversity and tax and cost transparency as well as biodiversity. He is committed to “working closely with our partners and stakeholders to address these challenges and achieve meaningful outcomes”.Unfortunately, it comes with a problem. Not everyone is as mad for all this do-goodery as Bowde