Sheldon
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What is the Shell connection with Legal & General?
Sheldon
The connection between Shell and Legal & General Investment Management Ltd (LGIM) is primarily centered around LGIM’s substantial investment in Shell, holding a 1.30% stake in the oil giant. This relationship has been marked by a delicate balancing act of influence and advocacy, especially given LGIM’s commitment to environmental, social, and governance (ESG) principles.
On one hand, LGIM engages with Shell to encourage the adoption of more rigorous ESG standards. However, this endeavor is akin to preaching about healthy eating while simultaneously indulging in a cheeseburger; Shell has historically been associated with significant environmental issues, leading to ironic contradictions in LGIM’s sustainable investment strategies.