The UK government wants its largest asset manager to have better relationships with the cladding companies it owns so it can repair dangerous buildings.
Following an investigation into the 2017 London Grenfell Tower fire that killed 72 people, the government black rock, Vanguard Group, Fidelity Management & Research, NOK 14.29 trillion ($1.38 trillion) Government Pension Fund Global, Oslo Manager Norwegian Bank Investment Management and Public Pension Manager Kes De Depot There is E-Consignations. French funds warn of economic repercussions for companies and thus their shareholders.
According to the government, investigations revealed that exterior materials companies Kingspan Group, Arconic Corporation and Compagnie de Saint-Gobain had exhibited inappropriate practices, including selling flammable products and misusing safety test results. became.
“I urge you to use your influence on responsible investors to encourage these companies to immediately propose comprehensive financial packages for their restoration work. It is not right for cladding companies to continue to turn a profit in the face of hardship and misery,” said Michael Gove, UK Secretary of State for Upgrading, Housing and Communities, in a news release. increase.
The money manager was warned that if the manufacturer does not present a comprehensive financial package to repair the building, the department’s focus will be “trained on them.”
A spokesperson could not be reached to provide further information.
