Climate Change

Hedge fund manager criticises slow action by asset managers and calls for better nearer-term targets

‘Insufficient’ state action means whole market must work together to tackle climate change

But the targets are supported when explained, with many considering divestment around climate change

Aegon UK has transitioned more than £5bn of workplace pension scheme assets into ESG investment strategies, with another £3.5bn set to move over by the end of the month.

Trustees have been warned to keep an eye on weakening employer covenants even after a positive aggregate funding experience in the last three years as myriad funding and investment issues pose risks to defined benefit (DB) schemes.

UK banks and asset managers were responsible for financing 805 million tonnes of CO2 in 2019, which would make the City of London the ninth biggest emitter in the world if it were a country, according to a report by Greenpeace UK and the World Wildlife...

Greater clarity around standards will make it easier for trustees to interrogate managers about how they are managing transition risk, says Nina Reid.

Professional Pensions rounds up some of the latest ESG and climate news from across the industry.

Pension schemes must ensure a full range of ESG risk factors beyond just climate change have been considered, the Pensions Policy Institute (PPI) warned in a report yesterday (22 April).

Schemes need to obtain emissions data to measure their carbon footprint, but this process comes with challenges. Stephanie Baxter explores how to overcome them and why schemes need to look beyond emissions