UK - A shocking 75% of fund managers do not publicly disclose any policies relating to environmental and social issues, according to a new survey from FairPensions.
FairPensions found this was despite the fact that many of the companies analysed had transparent corporate responsibility policies in place.
Based on the survey's results, Laggards in the league table were Scottish Widows and Barclays Global Investors, with Goldman Sachs and State Street ranked last.
Top performers included F&C, which scored 100%, followed closely by Hermes, Morley and Insight, who all demonstrated a high degree of transparency and a concrete commitment to engagement on responsible investment.
Alex van der Velden, executive director of FairPensions, said: “Investors need to know how fund managers are responding to the financial risks associated with such important issues as climate change and human rights. Environmental and social issues can lead to heavy losses which are then passed on to investors.”
The survey also looked at how fund managers were ignoring the recommendations of their own industry body by not having a publicly available engagement policy.
Van der Velden said many of the fund managers in the survey were failing to meet the best practice codes set up by their own industry, such as the Statement of Principles of the Institutional Shareholders’ Committee (2007).
The survey showed that there had been little voluntary voting disclosure, which strengthened the argument for the UK government to exercise its reserve power under the Companies Act to make voting disclosure mandatory, explained Van der Velden.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers