"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."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Revision History
No revisions have been submitted for this quote.
Categories
Investment
40 quotes on TrueQuotesView all quotes by Investment →
Related Quotes
"The decision to curb support follows an exodus of major institutional investors from the coal industry in recent year…"
"The ban will mean that some of the world’s biggest mining companies, such as BHP, can never be part of Nest’s share h…"
"SWA Magazine: How about orbital space colonies? Do you see these facilities being built or is the government going to…"
"The owners of savings not finding, in adequate quantities, their usual kind of investments, rush into anything that p…"
"The line separating investment and speculation, which is never bright and clear, becomes blurred still further when m…"
"Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac’s talents didn’…"
"... there are three connected realities that cause investing success to breed failure. First, a good record quickly a…"
"With all the clever brains in America it would be great to see more investment and focus on this essential research!"
"Every child in American should have access to a well-stocked school library. … An investment in libraries is an inves…"
"The UK government’s overseas development bank has bowed to calls to end fossil fuel financing abroad by promising to …"