ImpactAlpha Sept. 29 – S&P Global dropped companies generating more than 5% of their revenues from thermal coal from its environmental, social and governance, or ESG, index.
Among those delisted: Duke, Dominion, American Electric Power, Xcel, WEC Energy, DTE Energy, PPL, and CMS Energy. “Thermal coal companies may now be counted among this lowest common denominator of “unsustainable” investments, said S&P, citing a shift in investor perception.
Likewise, the United Nations’ Principles for Responsible Investment delisted five companies that have failed to meet the group’s minimum requirements over two years, a move it calls “a last resort.”
They include Primary Wave IP Investment Management in the U.S., France’s BPE and Delta Alternative Management, Indonesia’s Corfina Capital and Stichting Gemeenschappelijk Beleggingsfonds FNV in the Netherlands.
Another two dozen signatories that failed to file an annual PRI report in 2018 have been delisted or voluntarily dropped out, the organization said.