UK - Schemes should be wary of investing in extractive companies because of their failure to manage biodiversity risks, Insight Investment warns.
Research by the fund manager showed 15% of extractive companies, which include oil and mining firms, make no reference to biodiversity in their public documents. And 30% only make passing references.
Insight believes extractives are placing themselves at risk of suffering liabilities, damage to reputation, increased costs and difficulties accessing land.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.