JP Morgan’s ‘sustainable’ funds invested £200m in mining giant Glencore
Backing of Glencore angers campaigners who have highlighted firm’s environmental breaches in South Africa
One of the world’s biggest banks, JP Morgan, has promoted environmental and “sustainable” funds to customers which have invested more than £200m in the mining giant Glencore, it can be revealed.
Ethical investing has become big business for JP Morgan and other financial giants, with worldwide “sustainable” investing expected to surpass $40tn by 2030. But the industry now faces scrutiny over the rules around investments focusing on environmental, social and governance (ESG) issues.
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