Climate Change
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.
ACA backs integration of climate change action into default DC strategies
The Association of Consulting Actuaries (ACA) has welcomed the Pensions Climate Risk Industry Group (PCRIG) and the Department for Work and Pensions’ (DWP) guidance on climate risk.
Scottish Widows updates stewardship policy in bid to drive positive change
Scottish Widows has unveiled an updated stewardship policy detailing how it will undertake stewardship and engagement activity in support of its responsible investment framework.
Climate and coronavirus threaten high-quality actuarial work
The pensions industry’s regulators and key players have identified climate change and the Covid-19 pandemic as key risks to the sustainability of high-quality actuarial work.
IIGCC issues guidance on tackling physical climate risks
The Institutional Investors Group on Climate Change (IIGCC) has published detailed advice on how to integrate climate risks and opportunities into investment processes.
On demand: PP webinar on ESG integration
PP’s expert panel discusses the implementation and integration of ESG into investment
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.
Greater clarity needed on climate-related stress tests, says IFoA
The Institute and Faculty of Actuaries (IFoA) has welcomed climate-related stress tests, but revealed UK insurers need greater clarity around the framework.
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.
Guy Opperman: Climate change is too important to ignore
Schemes must do more to lessen the financial risks of climate change, says Guy Opperman.
Have investment managers improved their ESG approaches?
Investment managers are much more transparent on their stewardship approaches, but it remains important for there to be an ongoing dialogue with trustees. Kim Kaveh explores the findings.
Mark Carney issues climate change warning to schemes
Mark Carney says the financial sector must take more urgent action on climate change.
Nest to bolster climate change strategy to support carbon cuts
Government auto-enrolment provider Nest has mapped out how it will aim to help tackle climate-related risks, by testing ways to support cutting carbon emissions to 1.5 degrees.
PLSA appointed to TCFD industry working group
The Pensions and Lifetime Savings Association (PLSA) has been appointed to the Task Force on Climate-Related Financial Disclosures’ (TCFD) pensions industry working group.
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.
Five stories you may have missed this week
This week’s top stories include Prudential Retirement urging schemes to insure member benefits, and the Universities Superannuation Scheme submitting its 2018 valuation.
Amundi and AIIB launch Asia climate bond portfolio
The Beijing-based Asian Infrastructure Investment Bank (AIIB) and Amundi have launched a $500m (£403m) Asia climate bond portfolio.
Exclusive: Blackrock launches two ESG-focused funds
Blackrock has launched two ESG index funds for defined benefit and defined contribution (DC) schemes in response to growing demand for sustainable investment options.
Swansea pension fund switches £500m to low-carbon strategy
The City and County of Swansea Local Government Pension Scheme (LGPS) will swap around a quarter of its assets to a low-carbon fund by the end of the month, it has announced.
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.
Taking stewardship seriously
There is mounting pressure on schemes to engage more actively with firms in which they invest. Charlotte Moore takes a look at the different approaches being used.
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.
