LGIM to sell Glencore stake on concern over thermal coal plans

Legal & General Investment Management (LGIM) said it will divest from Glencore Plc, the world’s biggest coal shipper, on concerns about its production of the most polluting fuel. While most of its rivals have either ditched — or plan to exit — thermal coal, Glencore has instead said it plans to run its mines to closure by 2050. The commodities giant says the world still needs the dirtiest fossil fuel and that it’s the best owner of the mines.