Scot Wid revamps green fund, Fidelity tackles climate and diversity

Scottish Widows revamps environmental fund

Scottish Widows has relaunched its environmental fund, which aims to invest in "great green" British businesses. The fund, which is available to 6m customers, will have a dual approach, which is “to invest in companies that make a positive impact on the environment through their products and services, and in environmental leaders that are making a difference with their progressive policies,” the provider stated. The fund does not invest in any companies that are involved in the extraction, production, supply and transportation of fossil fuels, or those that generate power from or own reserves of fossil fuels. In addition, it also excludes companies that receive revenue from nuclear energy, including nuclear uranium mining.

Fidelity introduces new policies on climate change and gender diversity 

Fidelity International has introduced new global policies on climate change and gender diversity, with the goal of  improving the governance and sustainability behaviours of its investee companies through engagement and voting. The new policies and guidelines, published on Monday, will see the asset manager increasingly hold investee companies to account while utilising its right to vote against boards that do not meet expectations, it stated. Fidelity will expect investee companies to take action to manage climate change impacts and reduce their greenhouse gas emissions, as well as making specific and appropriate disclosures around emissions, targets, risk management and oversight. From 2022, where companies fall short of their minimum expectations, Fidelity will vote against company management, it added.