NEST appoints The Co-operative Asset Management as responsible ownership partner

NEST today announced The Co-operative Asset Management (TCAM) as the successful bidder for a contract to provide responsible ownership services that will help NEST engage with the companies it invests in and help meet its responsibilities as an active and prudent asset owner.

TCAM will work with Manifest, the proxy voting agency, to deliver a range of services including:

supporting NEST on formulating its views on environmental, social and governance (ESG) issues, including executive remuneration, boardroom diversity, water and carbon emissions and labour practices
supporting NEST's responsible ownership of assets through a number of activities, including developing processes on vote monitoring and helping NEST understand when it should move to collective action when it comes to engaging with companies
supporting NEST in aligning NEST Corporation's ESG policy with its corporate social responsibility policy and integrating ESG considerations across its investment approach.

Mark Fawcett, NEST Chief Investment Officer, says:

'NEST continues to deliver on its commitment to act as a responsible owner of assets on behalf of our members and aspires to a world class responsible investment approach. We believe responsible investment supports long-term value, reduces risk and supports better member outcomes.

'TCAM will help NEST in developing and delivering an effective and dynamic responsible investment approach. It is an expert partner in its field with an excellent track record in exercising responsible ownership.'

John Mercer, TCAM Chief Investment Officer, says:

'We have long been at the forefront of responsible investment and integration of ESG factors into our own investment process, and the financial crisis has highlighted the need for shareowners to act as responsible stewards of the funds entrusted to them.

'We are delighted that NEST has such strong aspirations to be a leader in responsible investment and has chosen TCAM as a partner to help realise its goals.'

Further information

NEST www.nestpensions.org.uk

TCAM www.co-operativeassetmanagement.co.uk/advisers/responsible-investment.php

Manifest www.manifest.co.uk

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