GLOBAL - Pension funds have been taking positive shareholder action to address the issue of disclosure over climate change and socially responsible investing.
As one of the CDP signatories, the CPPIB urged the 200 largest Canadian companies to measure their greenhouse gas emissions and report on strategies to deal with climate change.
David McCann, vice-president and head of relationship investments, CPPIB, said: "Improved disclosure on climate change related risks and opportunities through mechanisms such as the...CDP is necessary as it enables long term investors like us to incorporate the potential investment impact into our investment decisions."
A spokesman from the CDP told Global Pensions some of the 385 institutional investors which supported the scheme had taken action similar action in their own countries.
These pension funds included Hermes, ABP, Catholic Super and the two largest Californian retirement systems.
Elsewhere, a group of signatories to the UN Principles of Responsible Investment (UNPRI) wrote to the CEOs of 103 companies highlighting those both doing well and needing improvement in this area.
These companies had elected to participate in the UN Global Compact, the world's largest voluntary corporate responsibility initiative.
As signatories, companies agreed to implement and report their progress on ten principles in the areas of human rights, labour standards, the environment and anti-corruption to investors.
Steve Waygood, head of engagement, Morley, commented: "Without adequate reporting on progress, a company signing the Global Compact's ten principles represents little more than a statement of good intentions."
Signatories to the letter included four Swedish AP funds and the New Zealand Superannuation Fund.
A group of major institutional investors launched a climate change action plan at a summit held at the UN on February 14 to boost investments in energy efficiency and clean energy technologies.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.