Wells Fargo Asset Management is launching a new climate transition global investment grade credit strategy. The aim is both to help investors reach their climate and financial goals and to support the decarbonization of the economy, the company says in a statement.
The strategy is already being used by investors including the UK's National Employment Savings Trust (Nest). Earlier this year, the pension fund converted its allocation of USD 2bn with Wells Fargo Asset Management to the new strategy to align with its climate policy.
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