UK - Morley Fund Management has revealed the names of companies not included in its socially responsible investment funds.
They include BAe Systems, British American Tobacco, the Gallaher Group and Imperial Tobacco.
Morley said their SRI policies were “not good enough” for its pooled fund.
Head of SRI, Paul Moody, said: “Companies should focus on managing social, ethical and environmental issues that have a material impact on business performance, and must demonstrate how these issues are embedded within the business.”
Morley’s FTSE100 sustainability matrix rates all companies in the index – those which fall below a certain level are not included in the pooled fund used by pension funds, although pension funds can specify if they want to invest in a company despite a poor SRI rating.
Several companies have improved their rating in the matrix, including Marks & Spencer (C3 to B2), Standard Chartered (D3 to C2) and mmO2 (B4 to B2).
Moody said: “These results demonstrate a distinct improvement in companies.”
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.