Legal & General Investment Management (LGIM) has announced the launch of the UK’s first major ‘fossil fuel free’ fund, in partnership with PensionBee.

PensionBee head of corporate development, Clare Reilly, said: “Everyone should have control over where their money is invested. Our new fossil fuel free fund will finally offer consumers a practical way to completely exclude oil from their investments. We hope this is just the start of all savers using their investments to transform the world they live in - for the better of the planet, society and their retirement.We are proud to be the first provider to offer a fund of this type and look forward to its launch later this year.”

The launch follows calls from London mayor, Sadiq Khan, and New York City mayor, Bill de Blasio, for pension schemes to divest from fossil fuel assets.

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