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Bloomberg
Harris Associates, a multibillion-dollar asset manager that has touted responsible investing, agreed to enact a series of investor-driven measures after it was disclosed that one of its top managers helped fund groups that question the consensus on climate change.
Brunel Pension Partnership, one of Britain’s largest retirement pools, said it looked into Harris’s investment practices following a report by Bloomberg regarding Deputy Chairman David Herro, one of Harris’s two chief investment officers. Herro—in his personal capacity—directed hundreds of thousands of dollars to three think-tanks in the UK and US, either as a fundraiser or through his own donations, according to US tax filings.
Brunel, which is pushing financial firms to address climate change, said that while it concluded Herro’s activities didn’t affect how Harris invested, it asked the asset manager to adopt a suite of new measures.