ClientEarth letter to EMR Capital regarding West Cumbria Mining

ClientEarth's letter to the CEO and Managing Director of EMR Capital raises the issue of how the ongoing investment of one of its managed funds, EMR Capital Resources Fund 1 LP (together with any affiliated fund vehicles managed or advised by entities in the EMR Capital group, the Fund), in the West Cumbria Mining group (the WCM Group or WCM) and its proposed coal mine in Whitehaven (the Cumbria Mine) is compatible with:

(a) the duties owed by EMR Capital to third-party investors in the Fund, including fiduciary duties;

(b) the appropriate management of climate-related financial risks;

(c) the expectations of investors in the Fund; and

(d) EMR Capital’s public commitments to: (i) responsible investment and the incorporation of environmental, social and governance (ESG) considerations in investment decisionmaking, management and exit, including as a signatory to the UN Principles for Responsible Investment (UN PRI); and (ii) the climate objectives of the Paris Agreement.