Swiss investor Lombard Odier Investment Managers (LOIM) has pulled its investment out of Bahamas Petroleum Company (BPC), citing its need to move away from funding projects that are counter to sustainability.
The company invested US$15.6 million in BPC through a hedge fund and branded that move an unintentional oversight, as LOIM is seen as a sustainability leader.
According to a Responsible Investor report, the B Corporation designation which LOIM has had since 2019, requires those designees to meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose.
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