ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including LifeSight’s investment in a climate transition fund, a stewardship reporting guide launched by consultants, and The People’s Pension’s climate pledge.
LifeSight invests in Climate Transition Index fund
The more than £11bn LifeSight, Willis Towers Watson’s defined contribution master trust, is investing nearly $1bn (£734m) in Willis Towers Watson’s Climate Transition Index fund. The CTI fund is a Ucits vehicle that tracks the Stoxx Willis Towers Watson World Climate Transition Index, which makes a forward-looking, bottom-up evaluation of transition risk and opportunity for each company. John Haley, chief executive at Willis Towers Watson, said: “This fund embodies the new climate-smart economics and finance for the structural changes we need in mainstream markets.” The CTI fund received regulatory approval at the end of October and LifeSight’s investment will take place in several stages by the end of this year.
This article originally appeared on MandateWire.com
Investment consultants launch stewardship reporting guide
The Investment Consultants Sustainability Working Group published on Wednesday a new guide aiming to improve the engagement reporting delivered by asset managers and platform providers to institutional clients. Considering investment consultants often seek information on engagement, but obtaining appropriate data can be challenging — with managers citing a high burden created by different information requests from different parties — the industry group has developed a common guide for engagement reporting. The goal is that this core framework will “enable efficiency and thereby significantly improve transparency,” the ICSWG said.
The People’s Pension calls for default funds climate focus
Master trust The People’s Pension is calling forthe pensions industry to focus its climate change efforts on default funds. The pledge follows research which showed that almost eight in 10 people (78 per cent) consider climate change important, but only 2 per cent have made changes to their pension investments as a way to tackle it. The survey of more than 2,000 people, conducted by YouGov, found that savers are interested in responsible and sustainable investment, with almost half (49 per cent) wanting their pension company to invest ‘ethically’ on their behalf.
