Aberdeen Group plc has abruptly ceased its Financial Fairness Trust, dismissing key leadership and staff. This marks the end of a 16-year support period for research into financial inequality. The company aims to shift its focus, generating speculation about the motives, especially in the context of recent political pressures targeting ESG and DEI initiatives. Previously funded organizations, including the Institute for Fiscal Studies and others, now face an uncertain future without this essential financial support. Experts assert the funding is vital for addressing financial disparities and influencing policy improvements.
Aberdeen Group plc has unexpectedly terminated its Financial Fairness Trust, along with the CEO and trustees, marking the end of a significant 16-year commitment to research on inequality.
The company plans to move in a different direction, prompting concerns about the impact on socially beneficial research funding, particularly under changing political dynamics.
Research organizations receiving previous funding from Aberdeen, like the Institute for Fiscal Studies and the Resolution Foundation, are now facing uncertainty as the trust shuts down.
Outgoing IFS director Paul Johnson emphasizes the importance of this funding for the UK's research infrastructure, crucial for addressing financial inequalities and policy change.
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