Ethical Fund Manager takes stand against coal and unconventional fossil fuels

Acknowledging broad community concern over excessive fossil fuel use, ethical funds manager UCA Funds Management has announced the development of a Fossil Fuel policy to hold more companies accountable for their environmental impact while still upholding responsible investment stewardship. The creation of the policy is an extension of UCA Funds Management's integrated ethical investment policy, and adopts a pragmatic and realistic approach to how society can quicken its transition to cleaner energy solutions. As part of this policy, UCA Funds Management will not directly invest in companies involved in the mining and/or exporting thermal coal, extracting or refining unconventional oil (such as shale oil and deep water drilling), or the extraction and exporting of unconventional methane gas (such as coal seam gas) that involves fracking. Natural gas, coking coal and conventional oil remain eligible for investment. Where a company is a major investor in renewable energy, that interest will be offset from excluded fossil fuels interests when considering whether the company remains open for investment.