"The UK’s biggest pension fund, the government-backed National Employment Savings Trust (Nest) scheme with nine million members, is to begin divesting from fossil fuels in what climate campaigners have hailed as a landmark move for the industry. The fund will ban investments in any companies involved in coal mining, oil from tar sands and arctic drilling. But the move puts Nest – a public corporation of the Department for Work and Pensions – potentially at odds with the current pensions minister, Guy Opperman, who earlier this month condemned divestment as “counter productive”. Nest, which handles much of the pensions of workers saving under the government’s “auto enrolment” scheme, will shift £5.5bn into “climate aware” investments as it anticipates a green economic recovery from coronavirus."
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Fossil fuel divestment
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