Brummer Says No to Nuclear Weapons and Thermal Coal

on

Stockholm (NordSIP) – Stockholm-based hedge fund manager Brummer & Partners AB, whose flagship multi-strategy fund, Brummer Multi-Strategy (BMS), invests in nine independent hedge funds co-owned by the manager, announced further additions to its investment exclusion list, thereby showing an increased commitment to sustainable investment practices. Brummer & Partners and the hedge funds included in BMS decided to extend their existing exclusions list that included mainly companies focusing on the production of controversial weapons. In addition, the funds have now committed to abstaining from investments in companies involved in the manufacturing or selling of nuclear weapons.

In addition, Brummer Multi-Strategy and its underlying hedge funds will also stay away from holding positions in companies that derive more than five percent of their revenues from coal or companies that generate more than 30 percent of revenues from electricity production generated by the combustion of coal. Meanwhile, the funds may choose to build short positions in those companies, when they are expected to underperform.

- Promotion -

Picture from Pixabay

Partner message

In the midst of a global pandemic, Apple announced one of the corporate world’s most ambitious environmental blueprints – to reduce the climate impact of every Apple device to net zero by 2030. The plan involves cutting 75 per cent of the company’s existing carbon footprint, not only for its own business but also across the manufacturing supply chain and product life cycle.

Learn more

NordSIP Insights

Most read this week

NordSIP Insights – Sustainable Fixed Income 2020

Believe it or not, this is our third edition of the Sustainable Fixed Income Handbook. We all remember how 2020 started, the year everything was...