climate change risk
Barclays Bank UK Retirement Fund integrates ESG and climate risk into £1.3bn DGF
The Barclays Bank UK Retirement Fund (Barclays UKRF) has integrated ESG factors and climate risk into a £1.3bn diversified growth fund (DGF) portfolio used for its defined contribution (DC) scheme.
Divestment alone dangerously undermines pursuit of zero-carbon economy
Dr Pooja Khosla and Amer Khan argue that schemes should use their monetary power to seek change rather than divest.
L&G to halve emission intensity of £81bn annuity book by 2030
Legal and General Retirement (LGR) has committed to cutting the carbon emission intensity of its annuity book by half by 2030, while the overall group targets a net-zero portfolio by 2050.
Auto-guidance gets cross-party support; Labour calls for net-zero pensions
A proposal to ensure savers receive a Pension Wise appointment prior to accessing their retirement pot has received cross-party support in parliament, while Labour seeks net-zero pensions by 2050.
UK to issue first green bond and require firms to disclose climate risk
The government plans to cement the UK's position as a global centre for green finance have received a significant boost, with chancellor Rishi Sunak unveiling proposals to issue the country's first sovereign green bond next year and make climate risk...
How should trustees consider climate risks to sponsor covenants?
UK pension schemes are working hard to counter climate risks across investment portfolios, but the assessment of climate risks to sponsor covenant must be a key focus of schemes’ broader risk assessment, says Michael Bushnell.
How the BT Pension Scheme will safeguard its portfolios and the planet from climate change
Morten Nilsson explains why the BTPS is aiming to be net zero on carbon emissions by 2035, and how it plans to get there.
Schemes must face the future to drive better outcomes
Julian Mund writes about planning for the future and the four challenges he sees for the pension industry over the next five years.
Fund managers urged to ramp up climate risk data
XPS Pensions Group has called on fund managers to step up collection and management of climate risk data in order to get a true sense of the risk in their portfolios.
BT Pension Scheme sets 2035 net-zero target
The BT Pension Scheme (BTPS) has become the latest pension fund to commit to a net-zero investment strategy by a fixed date in order to mitigate the financial risks from climate change.
Guy Opperman welcomes FCA climate risk reporting plans
The Financial Conduct Authority’s (FCA) plans to usher in landmark climate risk reporting measures in 2022 have been welcomed by pensions and financial inclusion minister Guy Opperman.
Government consults on proposals to force largest schemes to publish climate risk disclosures
The government has put forward proposals to require the 100 largest occupational pension schemes – those with £5bn or more in assets and all authorised master trusts – to publish climate risk disclosures by the end of 2022.
Guy Opperman under fire over fossil fuel divestment stance
More than 60 civil society leaders including MPs, climate experts, faith leaders and local councillors have signed an open letter accusing pensions and financial inclusion minister Guy Opperman of backing continued investment in fossil fuels.
What proposed climate reporting duties could mean for trustees
Lorna Blyth looks at how an amendment to the Pension Schemes Bill could force pension schemes to align their investment strategies with the Paris climate agreement.
Keeping up with a disruptive and fast-moving investment backdrop
Investors must keep up with the opportunities and challenges arising from disruption off the back of climate change and technological advances, says Julian Lyne.
MPs' pension fund urged to make faster transition away from fossil fuels
The Parliamentary Contribution Pension Fund has been criticised for continuing to invest in fossil-fuel heavy companies despite a push into renewable energies.
Industry 'shoots itself in foot' with two trustee accreditation regimes
The industry has rejected the need for multiple professional trustee accreditation regimes after the Pensions Management Institute and Association of Professional Pension Trustees launched rival frameworks.
Opperman writes to 50 schemes demanding action on ESG
Pensions and financial inclusion minister Guy Opperman has written to the 50 largest pension schemes requesting action to combat climate change.
Most schemes neglecting Brexit contingency planning
The majority of schemes have claimed political and economic uncertainty has led them to disregard contingency planning for the range of potential Brexit outcomes.
TPR sets up industry group for enhanced law on climate change disclosure
Pension fund investors could face further disclosure requirements on ESG matters as an industry working group considers fresh law for trustees for as soon as next year.
Environment Agency fund joins global push for environmental impact disclosure
The Environment Agency Pension Fund (EAPF) has joined a coalition of 88 investors to demand companies disclose more information on environmental impact.
Pension funds 'need incentives' to invest for net-zero emission future
Greater incentives are needed to encourage institutional investors, including pension funds, to invest in such a way to help prevent climate change, investment experts have argued.
Opperman: Pension schemes must 'do the right thing' on tackling climate change
Pension schemes and their investment managers must take their environmental and social responsibilities seriously and use funds to tackle climate change, Guy Opperman has said.
Schemes should not divest from fossil fuels, says industry
This week's Pensions Buzz respondents have decidedly rejected former energy and climate change secretary Sir Ed Davey's argument that schemes should divest from fossil fuel intensive companies.
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