Nest and UBS cut five energy firms from portfolios

Nest sets 2025 carbon reduction target

Holly Roach
clock • 2 min read

Nest and UBS Asset Management have cut five energy firms they deem “unresponsive” from their portfolios.

UBS divested its holdings from Exxon Mobil, Imperial Oil, Kepco, Marathon Oil and Power Assets. The firm has applied these exclusions across its range of climate aware funds, including the one it manages for Nest, and its actively managed equity and fixed income sustainability funds. Nest has shared ownership in these five firms through its climate aware framework and the master trust said the five companies will not return to its main portfolio until they "demonstrate clear progress in preparing for the low carbon economy, in order to deliver good investment value for its savers". Ne...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Beyond the 60/40: Why the traditional portfolio blueprint is being tested again

Beyond the 60/40: Why the traditional portfolio blueprint is being tested again

'Bonds should not be doing all the defensive work'

Will Dickson
clock 09 July 2026 • 4 min read
SEI to launch two LTAFs in private markets 'expansion'

SEI to launch two LTAFs in private markets 'expansion'

‘Mansion House ambition’

Cristian Angeloni
clock 03 July 2026 • 1 min read
Darius McDermott: Building a resilient portfolio in a concentrated market

Darius McDermott: Building a resilient portfolio in a concentrated market

'A well-balanced portfolio should also take in the broadest possible range of growth opportunities'

Darius McDermott
clock 01 July 2026 • 5 min read