None of the Global Pensions 100 Panel has a climate change policy in place for hiring new managers.
A recent survey of investors with some $12trn in assets commissioned by three climate change groups found pension funds served as a key driver behind changes to asset managers’ investment practices with regards to climate change. However, only 18% of the funds they questioned had an official climate change policy used to evaluate managers.
Beier Sørensen, chairman of the IIGCC and head of research and strategy at the Danish pension fund ATP said: “It is encouraging that climate change is becoming a more strategic issue with the majority of asset owners and asset managers. They increasingly view climate change as a material investment risk/opportunity. However, to address the risks and opportunities arising from climate change, investors must have the tools to take meaningful action.”
Meanwhile, our own survey of the Global Pensions 100 Panel found none had a policy in place. One respondent said: “We don’t have a formal policy but we do ask RI questions including climate change-related ones as relevant.”
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.