British Hedge Fund Billionaire Sir Christopher Hohn: Banks Commit to Net Zero But Lobby Against Climate Regulation & Disclosure
26th March 2022 | Hong Kong
British hedge fund founder & billionaire Sir Christopher Anthony Hohn with estimated $8 billion personal fortune has made a statement on banks commitment to Net Zero (carbon emission), but lobby against climate regulation & disclosure. Sir Christopher Anthony Hohn: “Any bank making a net zero promise while actively lobbying against necessary climate regulation – such as mandatory disclosure of borrowers’ emissions and climate action plans – is greenwashing. Shareholders should vote against the directors of banks who are hiding their exposure to climate risk.” Sir Christopher Anthony Hohn founded TCI Fund Management (The Children’s Investment Fund Management) in London in 2003. TCI is an active shareholder of companies, including being a major shareholder of Germany largest stock exchange Deutsche Borse, and actively forced the resignation of then-CEO (Carsten Kengeter) after refusing to abandon the $30 billion takeover London Stock Exchange. TCI is also active in ESG including requesting portfolio companies to disclose their current greenhouse gas emissions, and filing resolutions for companies including Moody’s, S&P Global & Alphabet (Google). InfluenceMap, a climate think-tank in the latest March 2022 report, found 29 of the world’s 30 largest listed financial institutions have set 2050 climate goals but remains members of financial industry associations which are opposing emerging sustainable finance policy. InfluenceMap: ”The largest enabler of fossil fuel financing was JP Morgan with $81 billion in 2020-2021.” (ESG ~ Environmental, Social & Governance)
“ Banks Commit to Net Zero But Lobby Against Climate Regulation & Disclosure “
TCI Fund Management
TCI Fund Management (The Children’s Investment Fund Management) is a London hedge fund founded by Chris Hohn in 2003. Christopher Hohn, TCI Founder and Portfolio Manager: “We invest in high quality companies with predictable free cash flow.”
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