2030 Finance | March 1, 2017

U.K. NEST pension fund allocates $162 million to UBS climate fund

The team at


Climate Finance

The U.K. NEST pension fund has allocated $162 million to a UBS climate fund.

The government-backed workplace pension fund is the second U.K. pension fund since November, after the HSBC Bank U.K. Pension Scheme, to integrate climate into its investment considerations.

NEST invested £130 million ($162 million) into UBS’s Life Climate Aware World Equity fund, which underweights heavy carbon emitters.

The fund overweights companies that produce clean energy or that are aligning themselves with the international goal of keeping temperature rise below 2ºC above pre-industrial levels.

NEST chief investment officer, Mark Fawcett, noted that the fund’s youngest member is 17 years old and could be investing for 50–60 years.

During that period, he said, “climate will change, the world economy will change.”

Photo credit: Macquarie