More ESG news – Page 32
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OpinionPositive momentum behind responsible investment
Data Crunch: Broadridge’s Jonathan Libre looks at best practices from schemes’ implementing environmental, social and governance strategies and the challenges trustees face in this area.
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News
Climate disclosure guidance for schemes expected in March
On the go: The Department for Work and Pensions is set to issue guidance in March to trustees on reporting the impact of their investments on climate change, pensions and financial inclusion minister Guy Opperman has confirmed.
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NewsBrunel lays down gauntlet with ESG policy
The Brunel Pension Partnership has issued a radical challenge on climate change to its asset managers and peers, as the local authority pool attempts to reduce the carbon intensity of its equity portfolios by 7 per cent year on year.
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Three in five savers want pensions screened for tobacco investments
On the go: Scheme members want more information about which companies their pensions are invested in, with 60 per cent calling for an active screening approach towards tobacco companies, according to new research.
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OpinionNew year, new attitude to ESG compliance?
Happy New Year, the world is burning. While readers will doubtless have tried to take a step back from work as the second-hottest year in recorded history came to a close, it will have been tougher to disregard footage of Australia’s south-east being engulfed in flames.
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News
Professionals say regulation creating unnecessary costs
On the go: A survey of pensions professionals has uncovered concerns about the added cost burden placed on schemes by increasingly strict regulation.
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One third of investment firms lacking on systematic ESG analysis
On the go: Nearly a third of investment managers do not consider environmental, social and governance factors systematically across all asset classes, despite claims from the majority that they invest responsibly, according to a report from LCP.
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News
Landmark vegan case could disrupt pensions industry
A landmark ruling finding that veganism is a philosophical belief will have a wider impact in the pensions industry, experts say, but warn trustees to avoid making knee-jerk changes to their schemes.
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NewsLocal schemes urge Barclays to stop financing fossil fuel companies
Several local government pension schemes are asking Barclays to publish a plan to gradually phase out its financing of fossil fuel companies, as the bank has provided more than $85bn (£65bn) to such companies since the Paris Agreement was signed in 2015.
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Trustees sitting on hands over ESG investment
On the go: A new survey has raised serious doubts as to whether pension funds will take meaningful action in the short term on sustainable investment issues, despite new regulations coming into force in October.
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OpinionThe pension industry’s ‘Extinction Rebellion’ moment
Dalriada’s Vassos Vassou explains why trustees must take ownership of environmental, social and governance risks in their pension funds’ investment strategies, and how asset managers and consultants must be held to account.
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FeaturesMaster trusts disappoint on ESG stewardship
Analysis: Pension fund scores on environment, social and governance stewardship remain low, with master trusts delegating responsibility on climate activity to their asset managers, new research shows.
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OpinionAre IGCs up to challenge of new duties?
Last year came to an end with the Financial Conduct Authority taking steps to expand the role of governance committees charged with looking after the pensions of millions of workplace savers in the UK.
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News
Nest considers 1.5C target for climate change fund
Data crunch: The government-backed workplace provider Nest is testing ways to adopt a 1.5C goal for its Climate Aware Fund, to better reflect the “quickly evolving nature of climate change risk” and its impact on members’ investments.
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IGCs face ‘huge challenges’ with extended oversight remits
The new rules coming into force for independent governance committees – taking oversight of the provider’s policy on environmental, social and governance factors, and guaranteeing the value for money of new investment pathway solutions – have been branded a “huge challenge” by industry experts.
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Ombudsman sides with Shell on climate change dispute
The Pensions Ombudsman has sided with the Shell Contributory Pension Fund in the legal challenge regarding the disclosure of climate change information, which has prompted environmental lawyers ClientEarth to request the body to review its internal procedures.
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Transport firms set to miss emissions targets
On the go: Fewer than one in five transport companies are on track to limit climate change to 2C, according to the Transition Pathway Initiative, as the imperative for asset owners to take action intensifies.
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Only three asset managers ‘walking the walk’ on climate change
Among the world’s 15 largest asset managers, only three companies are making the grade on environmental, social and governance considerations, a report from InfluenceMap shows.
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OpinionWhy face-to-face member engagement outdoes digital… for now
The London Pension Fund Authority’s Robert Branagh explains why meeting members in person can quell scam fears and inform strategy on environmental, social and governance issues.
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Greens manifesto to force fossil fuel divestment for public schemes
On the go: Public sector pension funds would be required to divest from fossil fuel-related companies under a government led by the Green Party, which has released a manifesto packed with controversial pension reforms.