UK’s biggest private pension fund to shift £5bn away from polluters

Exclusive: climate tilt by USS will immediately reduce emissions associated with its holdings by 30%

The UK's biggest private pension fund will shift 5bn of its investment in equities to an index avoiding the worst polluters, in a move that will immediately reduce the carbon emissions associated with the shareholdings by 30%.

The Universities Superannuation Scheme (USS), which manages the pensions of British academics, will introduce a climate tilt" to the money, shifting it to companies that are making efforts to cut emissions.