Brett Jollie

Ethical investment pioneer U Ethical has appointed Brett Jollie as Chief Executive Officer, signalling a decisive move to scale its investment platform and expand its reach across Australia’s institutional and wholesale investor markets.

Mr Jollie brings more than three decades of experience across global and Australian funds management, including 14 years as Chief Executive Officer of Aberdeen Asset Management Australia. During his tenure, he led a sustained period of growth and transformation, significantly expanding funds under management while building a leading institutional and wholesale distribution platform. This growth was driven through a combination of disciplined organic expansion and targeted M&A initiatives.

His appointment marks a clear inflection point for U Ethical as it seeks to translate its long-standing ethical investment heritage into broader market segment relevance and growth in Funds under Management [FuM]. U Ethical serves more than 3,000 clients, with $1.5bn in FuM and has contributed $68 million since 1995 that indirectly supports a diverse range of community initiatives and projects.

Chair Fiona Pearse said the Board had undertaken a comprehensive search and was delighted to appoint a leader with a proven track record of scaling investment businesses in complex, highly regulated environments.

“U Ethical has built a highly credible, purpose-driven investment platform over more than 40 years,” Ms Pearse said.

“We see a significant opportunity to take that proposition to a broader investor market. Brett brings the commercial discipline, distribution expertise and leadership experience to scale the business while preserving what makes it distinctive.”

U Ethical is Australia’s original ethical fund manager, with a not-for-profit ownership model and a deeply embedded approach to responsible investment. Its investment philosophy integrates ethical screening, ESG analysis and active stewardship which includes bold positions on important ethical matters and not shying away from holding companies to account, underpinned by a long-term, risk-aware investment approach.

The organisation is driven to deliver strong investment performance while reinvesting value for investors, the environment and communities, underpinned by a long-term commitment to positive outcomes for future generations.

Mr Jollie said the opportunity was to unlock the full potential of a differentiated investment model in a market increasingly focused on authenticity and outcomes in responsible investing.

“U Ethical combines a clear ethical framework, an aligned ownership model and a disciplined investment capability. These are powerful foundations for growth,” Mr Jollie said.

“The opportunity now is to strengthen alignment across investment, product and distribution, and to scale that capability to a broader client base without diluting the integrity of the model.”

“This is about building on a strong platform. It includes enhancing investment capability, ensuring product market fit, and expanding distribution in a disciplined way.”

Mr Jollie’s experience spans the full investment value chain, including investment strategy, governance, distribution, operations and product development. He has held senior executive and board roles across the industry and is widely recognised for leading growth, transformation and organisational alignment.

Ms Pearse said the appointment positions U Ethical for its next phase of development.

“This is about taking a very strong business and stepping forward with intent,” she said.  “We have a clear growth strategy, and Brett is a leader who has successfully executed strategic growth agendas before.”

The Board also acknowledged the contribution of outgoing CEO Mathew Browning.

“On behalf of the Board, I would like to thank Mathew for his leadership and the strong, well-positioned platform he leaves behind,” Ms Pearse said.

“Mat has led the transformation of U Ethical from the Uniting Church’s internal investment arm into a stand-alone, award-winning responsible investment manager. His vision, leadership, and belief in the power of ethical investing have shaped U Ethical into what it is today, and we are deeply grateful for everything he has contributed.”

  Mr Jollie will commence as CEO on 7 April.

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Managing climate risk is a core fiduciary responsibility

U Ethical, an Australian not-for-profit ethical investment manager, has released its latest Climate Risk Report, highlighting that portfolio carbon intensity continues to be significantly lower than the benchmark and stepping up pressure on Australian banks to align their financing with the Paris Agreement.

The Climate Risk Report outlines U Ethical’s broader climate strategy which provides a transparent view on how U Ethical assesses, manages, and acts on climate related risks and opportunities across its portfolios – including the use of scenario modelling, fossil fuel exclusions, and a firm commitment to investor stewardship.

“We believe managing climate risk is a core fiduciary responsibility. Climate change is no longer a distant threat, it’s a present-day financial risk, and we’re using our seat at the table to push for real, measurable action,” said Jon Fernie, chief investment officer at U Ethical.

Holding institutions accountable

As an active ethical fund manager, U Ethical is spearheading a collaborative engagement initiative with Australia’s major banks to press for the phasing out financing of fossil fuel projects that are not aligned with a net zero transition.

U Ethical has taken a lead role in coordinating direct engagement with ANZ, NAB, Westpac, CBA, and Macquarie Group – pressing for credible transition pathways, more transparent emissions data, and cessation of financing for unaligned fossil fuel projects. The working group commenced in 2024, and further meetings are scheduled for later this year.

Beyond banks: Other key findings from the report

• More than 80% lower financed carbon emissions (Scope 1+2) in U Ethical Australian Equity portfolios compared to market benchmark (S&P/ASX 300 Accumulation Index)
• 93% of Australian Equity portfolio companies have set greenhouse gas emission reduction targets.
• 25 climate-related shareholder resolutions voted on, with 92% support for proposals.
• Active participation in investor alliances such as Climate Action 100+, IGCC, and UN PRI.

Ethics in action

With a long-standing fossil fuel exclusion policy and a strong track record in climate-conscious investing, U Ethical’s Climate Risk Report uses the Taskforce on Climate-Related Financial Disclosures (TCFD) framework to provide clarity on its approach to risk management, strategy, governance, stewardship, and opportunities – and how it measures its progress.

“Our climate-related action is aimed at creating long-term value for our clients, while also supporting global efforts to limit climate change to 1.5° C above pre-industrial global temperature levels, in line with the Paris Agreement,” said Rachel Alembakis, stewardship manager at U Ethical.

“Through the TCFD framework, we’ve been able to narrow our approach and demonstrate that aligning finance with a low-carbon economy is not only possible, it’s increasingly necessary.”

Read the report.

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