Virgin offers 'environmentally-friendly' investment option
Virgin Money has launched a new fund aiming to satisfy consumer demand for investment in carbon-friendly businesses.
The Virgin Climate Change Fund has committed to only investing in companies with a lower than average carbon footprint for their sector.
Working alongside asset management firm GLG Partners, Virgin is hoping to build on research it undertook revealing that 29 per cent of consumers have favoured goods or services from environmentally-aware companies in the past year.
"We're delighted to be able to bring GLG's expertise within reach of all UK investors and deliver a high performance investment fund which is also better for the environment," said Virgin Money chief executive Jayne-Anne Gadhia.
"The climate change issue is too often seen as one where consumers have to pay a price," she added. "There is too much 'stick' and not enough 'carrot'"
A new report published by US environmental body Ceres revealed that HSBC was the most environmentally-aware global bank, with Citigroup also performing well.
Article Date: 23 January 2008
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