The High Court in England and Wales has confirmed that climate-related screening of investments can be a valid approach for charity trustees, in a case brought by trustees of two large grant-making trusts.
In a decision acknowledged as “momentous” by the judge, the court granted a declaration that the trustees of two of the Sainsbury Family Charitable Trusts are permitted to adopt a new investment policy statement (IPS) with various climate and environment-related screens and, importantly, that doing so is a proper exercise of their powers of investment in line with their trustee duties.
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