The pensions scheme Nest and UBS Asset Management (UBS AM) have sent a clear signal they expect companies to engage with shareholders around climate change, particularly energy companies which have an important role in the transition to the low carbon economy. Due to lack of progress in managing climate change risk, UBS AM removed (divested) its holdings in five energy companies: Exxon Mobil, Imperial Oil, Kepco, Marathon Oil and Power Assets. UBS AM has applied these exclusions across its suite of Climate Aware funds, including the one it manages for…
Read MoreNest and UBS Asset Management call time on unresponsive energy companies
