Widows invests initial £2bn in BlackRock climate fund

Maria Nazarova-Doyle

Scottish Widows has invested an initial £2 billion of pension fund assets to become the inaugural investor for BlackRock’s Climate Transition World Equity Fund — which it helped design.

“Offering customers more sustainable investment choices, and challenging companies in which we invest to behave more sustainably and responsibly, is a central part of our strategy,” said Scottish Widows head of pension investments Maria Nazarova-Doyle.

“Our work with BlackRock to design this new fund, together with our significant investment, will help to engender positive change in the industry; incorporating ESG risks into a portfolio can have a meaningful impact on financial performance.”

BlackRock head of UK Sarah Melvin said: “The global shift to zero- and low-carbon energy sources is underway and is accelerating.

“The BlackRock Climate Transition World Equity Fund expands our range of sustainable investment solutions, adopting an innovative data-driven research approach to sustainability and climate change, and aims to deliver long-term value to clients based on companies’ readiness to transition to a low-carbon economy.

“This marks another milestone in BlackRock’s commitment to helping clients build sustainability into their portfolios.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.