Nest has appointed Lombard Odier Investment Managers (LOIM) to manage its global thematic equity mandate.

The actively managed strategy will focus on three key themes: climate change mitigation and adaptation, natural capital and social trends for a thriving society. As part of this, it will also make use of LOIM’s holistiQ sustainability research and active equities investment teams, to identify opportunities across developed and emerging markets that are aligned to these themes, and which are capable of delivering progress on the net zero transition while seeking attractive risk-adjusted future performance for members. Nest is expected to invest £5bn in the LOIM-managed strategy by 2030.

The Rothesay Foundation has donated more than £315,000 to the Clarion Futures warm spaces program.

The donation aims to help secure and improve the quality of life for older people in need in the UK, with the additional funding set to allow Clarion Futures to double the number of warm spaces supported through the second year of the programme, to a total of 50 across England. The funding will also enable warm packs to be distributed to those visiting the warm spaces. The packs include items such as an electric blanket, slow cooker, draught excluder, room thermometer and heating timer, as well as warm clothes like hats, gloves and socks.

Unite the Union has raised concerns over the closure of final salary and other defined benefit pension schemes.

Unite general secretary, Sharon Graham, warned that “there is a real problem in this country with workers facing misery in retirement because they don’t have decent pensions”, after research from The Pensions Regulator showed that the DB landscape has continued to shrink at a consistent rate over the past year. "We really need employers to start opening these schemes instead of closing them," she argued. "The current situation is just a recipe for more pensioner poverty and that is simply not acceptable.”

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