UK - Leading UK pension schemes are considering drawing up a joint letter to major companies on climate change disclosure.
The move follows a seminar to discuss the Universities Superannuation Scheme’s climate change report ‘A risk management challenge for institutional investors.’
USS environmental responsibility adviser David Russell said: “We are currently following up the seminar/discussion paper by contacting those present to find out their position regarding the ten action points.”
One possible action point is for pension funds to sign up to the carbon disclosure project, an organisation which is planning to send a letter to the top 500 global companies on their policy regarding climate change and carbon emissions.
Leading pension industry figures attending the seminar included NAPF chairman Peter Thompson and representatives from the £9.3bn Shell Contributory Fund, the £13bn Railway Pension Fund, the £3bn London Pension Fund Authority (LPFA) and the £2bn Lothian Pension Fund.
LPFA chief executive Peter Scales confirmed that his pension fund would now discuss the action points and report back to USS with its views.
Russell said that it was hoped to get all institutional investor responses in by the end of September and that USS senior adviser for socially responsible investments, Dr Raj Thamotheram, would organise any combined pension fund initiative.
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