Nest, the UK’s largest workplace pension provider, is set to procure a global ethical equity mandate. The asset owner, with £55bn under management, is seeking a manager with ‘proven investment discipline, integration of ethical criteria, and rigorous active ownership credentials’.
Nest expects the new mandate for its ethical fund to be segregated, customised and aligned its ethical screening process. Among other factors, a range of climate-related criteria guide the fund’s investments.
Net Zero Investor’s Transition Equities Summit
Wednesday 15th April 2026. Central Court, London
These include excluding companies that own geological fossil fuel reserves, engage in fracking or conduct unsustainable palm oil production. Simultaneously, the fund invests in renewable energy infrastructure and low-carbon technologies.
Anders Lundgren, Nest’s head of public markets notes the fund’s investment criteria are based on member expectations.
“In 2025 we undertook comprehensive member research to reassess expectations for our ethical fund. Our members told us they want their ethical option to invest in companies that can prove their positive contribution to society and the environment, while maintaining clear boundaries on what’s not acceptable”, said Lundgren.
According to Nest’s disclosures, the ethical fund is expected to ‘meet if not exceed’ requirements of its climate change policy. Disclosures also show the fund to be invested in 48 companies across 10 industries – with technology firms being the largest exposure.
“This market invitation is about finding a partner to deliver this approach at scale while, reflecting our commitment to always review our investment arrangements and act in the best interests of our members”, Lundgren adds.
The deadline for submitting tenders through Nest’s procurement platform is set for 13th March 2026.
