Co-operative wins Nest responsibility contract

The Co-operative Asset Management has succeeded in their bid to provide responsible ownership services to the National Employment Savings Trust.

Working with proxy voting agency Manifest, TCAM will help develop Nest’s views on environmental, social and governance issues including executive remuneration, boardroom diversity, water and carbon emissions and labour practices.

The company will also help Nest develop vote monitoring processes and understand when it should move to collective action when engaging with companies.

Mark Fawcett, chief investment officer at Nest, said: “We believe responsible investment supports long-term value, reduces risk and supports better member outcomes.”

John Mercer, chief investment officer for TCAM, said: “The financial crisis has highlighted the need for shareowners to act as responsible stewards of the funds entrusted to them.”

Pension provider Aegon said recently it was in talks with Nest to incorporate the scheme into its own offering.