UBS excludes Exxon Mobil from climate funds By Reuters


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© Reuters. FILE PHOTO: Signage is seen at an Exxon gas station in Brooklyn, New York, United States, November 23, 2021. REUTERS / Andrew Kelly / File Photo

LONDON (Reuters) – UBS Asset Management excluded Exxon Mobil (NYSE 🙂 and four other “non-responsive” energy companies in its line of climate-sensitive funds, including one managed for Britain’s NEST pension scheme, the companies said Monday.

UBS’s asset management arm also withdrew from Imperial Oil (NYSE :), Kepco, Marathon Oil (NYSE 🙂 and Power Assets following a three-year engagement program with 49 oil and gas companies identified as lagging behind on climate performance, the companies said in a statement.

The exclusions also apply to actively managed sustainable equity and fixed income funds from UBS.

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