London-based hedge fund manager Sir Christopher Anthony Hohn has a reputation for an aggressive activist investor, fighting against global warming and committed to reducing carbon pollution.
The founder of TCI Fund Management now manages $30 billion AUM, became one of the industry’s successful hedge funds, and posted a strong performance in 2019.
Due to his concerns over climate change, Hohn took his corporate activism in a new direction, saying he would shake up corporate boards to comply with environmental transparency and disclose their carbon dioxide emissions.
If they failed to do so, he says “he’ll dump their shares or oust their boards.”
He wants banks to stop lending to corporates that ignore climate change as well.
Hohn’s approach to tackling the global warming crisis is to take power away from regulators and into the hands of investors.
Hohn explained, “Investors should fire asset managers that do not disclose their carbon dioxide emissions, and should use their voting power to force change on companies who refuse to take their carbon pollutions seriously”.
Hone’s campaign is finally shaking up the whole asset management industry, and this movement falls in step with BlackRock’s announcement to ban fossil-fuel stocks.
References:
- The World’s Most-Profitable Hedge Fund Is Now a Climate Radical – bloomberg.com
- The most profitable hedge fund in the world is going green – thehill.com
- Billionaire Chris Hohn Becomes A Hedge Fund Giant – forbes.com
- Hedge fund goes climate radical – thestar.com.my
y19y4f
Very interesting read—easy to understand and packed with useful info!