Nest and UBS cut five energy firms from 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...