UK - Only five out of the UK's 20 largest occupational pension schemes have disclosed policies on engaging with companies on environmental and social responsibility, research by FairPensions has revealed.
The BBC and Royal Mail pension schemes were singled out as providing little transparency and having investments in companies facing "widespread allegations of serious environmental and human rights abuse".
BT, Coal, Greater Manchester, USS and West Yorkshire were the schemes named as those who do disclose their engagement policies, while only BT disclosed how shareholder votes on company policy have been cast on scheme members' behalf. Railways and USS gave "partial information" about voting, the report noted.
In a statement, FairPensions, the Amnesty, Oxfam and WWF-backed coalition campaigning for responsible investment, said such a lack of disclosure indicated "most pension schemes" were "failing to manage environmental, social and governance issues, which may put investments at risk".
"Pension scheme members will have concerns about how their pensions will be affected by issues such as climate change, but most are not given reassuring information on such issues," said Alex van der Velden, executive director of FairPensions.
As examples of recent instances where "ethical issues" had turned into "financial problems", the report cited losses caused by BP's pipeline spill and the US anti-gaming laws.
Those pension schemes provided by banks showed "little evidence" of responsible investment.
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Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point