NEST publishes on its website:
“Nest has launched its latest Responsible Investment report with news it’s boosting efforts to tackle the risks posed by climate change.
- UK’s largest auto enrolment scheme, representing one in four of UK workforce (8.5m), is testing ways to support 1.5C climate goal
- Diandra Soobiah, Nest’s Head of Responsible Investment: “We want to help ensure the world our members retire in is a world they want to live in”
- Nest members have already reduced carbon emissions of their investments equivalent to powering more than 10,000 homes
The scheme’s Climate Aware Fund (CAF) – a key tool which helps give the 99 per cent of members invested in Nest’s default funds exposure to global stocks and shares – increases investment into companies which are seeking to adhere with the UN’s Paris Accord agreement to limit global warming to 2C. However, Nest wants to go further and is currently testing a more ambitious target of 1.5C.
Last month the UN said the outlook was “bleak” with countries needing to cut carbon emissions five-fold if the world is to avoid warming by more than 1.5C.
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