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

AJ Bell posts record rise in platform flows as AUA hits £108.7bn

AJ Bell posts record rise in platform flows as AUA hits £108.7bn

Net flows up 42%

Cristian Angeloni
clock 23 April 2026 • 2 min read
Why advisers should adopt Gaudi's 'my client is not in a hurry' approach

Why advisers should adopt Gaudi's 'my client is not in a hurry' approach

Dan Brocklebank makes keynote speech at PA360

Isabel Baxter
clock 23 April 2026 • 2 min read
Four Asian investment lessons in the face of turmoil

Four Asian investment lessons in the face of turmoil

South Korea, Vietnam and Indonesia have suffered some of the biggest falls since the start of the war

Gabriel Sacks
clock 23 April 2026 • 4 min read