FFC Board Approves Investment Policy Changes

The Friends Fiduciary Corporation Board of Directors approved changes to the Investment Philosophy and Guidance policy at its September meeting.  The changes reflect continuing concern about the environment and climate change and their implications for companies.  Friends Fiduciary will now exclude from its portfolios those companies whose primary business is the mining or production of coal.  Executive Director, Jeff Perkins, said, “We are also excluding utilities which rely on coal fired plants for a significant portion of their power generation.  Coal is one of the more pollutive fossil fuel sources and we believe there is a strong business, as well as environmental, case for reducing coal production and consumption.”  In addition to these policy changes, Friends Fiduciary has further refined its environmental, social and governance screens to more closely focus on those companies in high impact industries such as oil and gas exploration, production, refining and transportation.   For the full Investment Philosophy and Guidance Policy, click here