Biggest private pension fund tilts away from polluters

The United Kingdom’s biggest private pension fund, the Universities Superannuation Scheme (USS) will shift £5 billion (US$6.7 billion) of its investment in equities to an index avoiding the worst polluters, in a move that will immediately reduce the carbon emissions associated with the shareholdings by 30%, writes Jasper Jolly for The Guardian.

USS, which manages the pensions of British academics, will introduce a climate ‘tilt’ to the money, shifting it to companies that are making efforts to cut emissions.

USS owns assets worth £82 billion on behalf of 470,000 members from 330 of the UK’s higher education institutions, of which 40% is held in equities. It is facing pressure from members to decarbonise, as well as a separate dispute over proposals to cut pension benefits that could lead to strike action.
Full report on The Guardian site