Christopher Hohn: Activist Manager, Climate Warrior

Manager calls for punishment to boards that don’t make climate disclosures.

Sir Christopher Hohn, the head of activist fund TCI, has demanded the companies improve their pollution disclosures. Those boards that fail to meet his demands will not receive his vote. In fact, he’ll vote against directors on issues like carbon emissions.

This week, the $28 billion fund posted a warning to companies like Airbus, Moody’s, and Alphabet.

“TCI believes that climate change-related risks, in particular a company’s greenhouse gas emissions, will have a material effect on a company’s long-term profitability, sustainability, and investor returns. These risks include regulation, taxation, competitive disadvantage, brand impairment, financing, physical asset impairment and litigation.”

Christopher Hohn, Extinction Rebellion Donor

Meanwhile, Hohn has donated money to the protest outfit called Extinction rebellion. The protest group disrupted London commuters and rallied outside of BlackRock’s London office.

Hohn’s fund said it planned to “typically vote against all directors of companies which do not publicly disclose all of their emissions and do not have a credible plan for their reduction.”

The hedge fund manager has also argued that climate disclosures are comparable to the bottom line of any organization.

“Investing in a company that doesn’t disclose its pollution is like investing in a company that doesn’t disclose its balance sheet. If governments won’t force disclosure, then investors can force it themselves,” he said in an interview with the Financial Times.

 

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December 6, 2019

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