BlackRock, the world's biggest fund manager, has teamed up with London's FTSE Group to help investors avoid coal, oil and gas companies without putting their money at risk.

In a sign that a global campaign against fossil fuels is entering the financial mainstream, companies that extract or explore for such fuels are excluded from a new set of indices created by FTSE, a large provider of stock market indexes

Several market benchmarks have already been developed to cover companies likely to profit from tougher environmental regulations, such as renewable energy or water management groups.

But the FTSE ones are believed to be the first from a leading index group that specifically bar fossil fuel companies.

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via World's Biggest Fund Manager to Help Create Index That Bars Fossil Fuel Companies | InsideClimate News.