Nest Commits £5BN to Energy Transition Fund
Nest, the UK's largest workplace pension scheme with over 12 million members and monthly contributions exceeding £540m, has committed £5bn to a global equity fund focused on energy transition themes. The fund, managed by Baillie Gifford, will be deployed over the next six years.
The fund will concentrate on climate change mitigation, adaptation, natural capital, and social trends. Nest, aiming to be net zero by 2050, has set an interim target of a 30% reduction in Scope 1 and Scope 2 emissions intensity by 2025. Liz Fernando, CIO at Nest, commended Baillie Gifford's dynamic approach to portfolio construction and robust sustainability research capabilities.
Nest's £5bn investment in the Baillie Gifford-managed fund underscores its commitment to sustainable investing and combating climate change. The fund, focusing on energy transition themes, aligns with Nest's net-zero goals and demonstrates its responsibility towards members and the environment.
Read also:
- chaos unveiled on Clowning Street: week 63's antics from 'Two-Tier Keir' and his chaotic Labour Circus
- Racing ahead in Renewable Energy Dominance: Changzhou, Jiangsu Pushes for Worldwide Renewable Energy Ascendancy
- Colorado's Proposition 112: A 2,500-Foot Fracking Buffer on the Ballot
- Renault Group to Discuss Decarbonization and Circular Economy Strategies at ChangeNow 2023 Event
