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UBS excludes Exxon Mobil from climate funds -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Signage seen in Brooklyn Exxon station, New York City. November 23rd, 2021. REUTERS/Andrew Kelly/File Photograph

LONDON (Reuters), UBS Asset Management exempted Exxon Mobil The firms announced Monday that they had identified four additional “unresponsive” companies in the climate-aware range of funds as well as four others from energy, which includes one for NEST (the UK’s pension scheme), and NYSE:

UBS’s asset management division also sold Imperial Oil (NYSE:), Kepco. Marathon Oil (NYSE:), and Power Assets, following a three year engagement program with 49 of the world’s largest oil and gas firms. These companies were identified as having poor climate change performance and they released a statement.

This exclusion also applies to UBS’ active-managed equity funds and fixed income sustainability fund.

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