At Nest, responsible investment and stewardship remain integral parts of our strategy and with a year of record temperatures and climate disasters, the goal of integrating environmental, social and governance (ESG) considerations is more important than ever. It’s been another busy year for Nest’s responsible investment team, with over 49,000 votes cast on our behalf at annual general meetings and 23 direct engagements with companies in our portfolio on topics varying from climate change, worker conditions and more.
It covers our activities and outcomes we’ve achieved over the year and reports on the progress we’ve made towards meeting our goals on environmental social and governance (ESG) priorities and climate change. Achieving the best possible returns for members at retirement means we have to look outwards and forwards and do our part to generate real world impact. You can read how we’re continuing our journey towards net zero, including engagement with the oil and gas companies we invest in and how we escalated engagement with BP and Shell.
The report also explores the work we’re doing on other areas of interest, like human rights, diversity, natural capital, and big tech – issues which are increasingly material to our member investments.
You’ll also be able to read about our refreshed ESG priorities. We now have seven areas of focus:
- Climate change
- Natural capital
- Human capital
- Human rights
- Big tech
As responsible investment stewards, our members and their interests always come first. This attitude drives our long-term goal to deliver bigger pensions in a better world. We hope this report provides a clear view on how we aim to achieve this.