October 2023
03Oct

Danish pension fund completes US$520m divestment

Danish pension fund AkademikerPension has completed a fossil fuel divestment program to exit its portfolio of oil and gas stocks worth US$520 million with the sale of Italy's ENI. The fund, which oversees $20 billion in client assets, has undergone a divestment program spanning half a decade. It has now divested from BP, Chevron, Equinor, Exxon Mobil, Petrobras, PetroChina, Shell, Repsol and TotalEnergies. AkademikerPension, formerly named MP Pension, is a pension fund that admits academic degree holders, with more than 150,000 members privately or...

October 3, 2023
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September 2023
29Sep

TPR issues first climate-related reporting penalty to ExxonMobil’s U.K. plan

The U.K.'s Pensions Regulator issued its first fine against a pension fund for failing to publish a report on how its trustees manage and govern climate-related risks and opportunities, delivering a £5,000 ($6,118) penalty to the ExxonMobil Pension Plan, Leatherhead, England. U.K. pension funds with more than £5 billion in assets have been required to publish a climate change report by a set deadline since October 2021. The report must be made publicly available on a website so participants can...

September 29, 2023
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19Sep

Canadian pension funds ignore rapid rise in climate dangers

Canadian pension funds with hundreds of billions in assets are ignoring the threat to their members’ retirement security as the global climate tips into a new and more destructive phase. “There are some pretty ominous concerns that we’re approaching tipping points,” says Patrick DeRochie, senior manager with Shift Action for Pension Wealth and Planet Health, an educational and advocacy organization on Canadian pensions and climate. “Pension funds need to understand that their mandate is impossible to fulfill without a stable climate....

September 19, 2023
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08Sep

Review of climate-related disclosures by occupational pension schemes

By The Pensions Regulator From 1 October 2021, new regulations came into effect for trustees of certain schemes aimed at improving governance and reporting of climate-related risks and opportunities. Reports under these regulations started to be published from mid-2022. Here, we set out our preliminary observations and feedback to industry, based on our review of a selection of the tranche one climate-related disclosures published by occupational pension schemes Libro completo “aquí”

September 8, 2023
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August 2023
30Aug

UK pension funds write to prime minister over net-zero policies

A group of UK pension funds have written to the prime minister warning that recent public statements and policy decisions regarding the net-zero transition are impacting investor confidence. The group, which is comprised of 36 pension schemes and investment managers, that together hold £1.5trn of assets under management yesterday (29 August) wrote to the prime minister Rishi Sunak, warning that mixed messages from the government on its support for the net-zero transition are jeopardising billions of pounds of much needed...

August 30, 2023
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28Aug

Canada is burning, so why is our national pension fund still heavily into fossil fuels?

By: Patrick DeRochie   Patrick DeRochie is the senior manager of Shift Action for Pension Wealth and Planet Health, a charitable project that tracks the fossil fuel investments and climate policies of Canadian pension funds, and mobilizes pension beneficiaries to engage fund managers on the climate crisis. As Canada experiences a record-shattering summer of deadly extreme weather, it’s worth remembering that our national pension fund has poured much of our retirement savings into the primary cause of the climate crisis: fossil fuels. In...

August 28, 2023
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25Aug

Unbundling Climate Change Risk from ESG

By Jeffrey N. Gordon  The divergence between the United States and the European Union over ESG disclosure and compliance policy for asset managers and companies is a striking feature of the corporate governance landscape. This divergence derives at least in part from differences in core features of the relevant political economy. In particular, retirement security in the US is significantly tied to stock market values; this is not so in Europe. The US is a petro-state, the world’s largest producer...

August 25, 2023
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25Aug

Canada’s Largest Pension Fund Invests in Reforestation Project in the Amazon

Canada Pension Plan Investment Board has joined a project led by Mombak Gestora de Recursos to produce carbon credits through reforestation efforts in Brazil’s Amazon region. The Canadian pension fund will invest up to US$30 million in Mombak’s reforestation fund, which aims to reach a target of US$100 million. The investment reflects a growing demand for carbon removal projects in voluntary carbon markets, as buyers increasingly favor initiatives that actually remove carbon rather than simply avoiding emissions. Mombak plans...

August 25, 2023
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23Aug

UN pension fund flags climate risk on ALM and performance

In a nod to headwinds including climate change, evolving demographics, and the future economic outlook the $85.5 billion United Nations Joint Staff Pension Fund, UNJSPF, will use a slightly lower real rate of return on investments to inform its upcoming actuarial valuation. The 2023 ALM study will consider various scenarios for the future, including those incorporating climate risk. The 2023 ALM study will consider various scenarios for the future, including those incorporating climate risk. Under a baseline scenario based on moderate...

August 23, 2023
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July 2023
23Jul

Providing security, building sustainable futures

By Pension Protection Fund  Our purpose is to protect the future of millions of people throughout the UK who belong to defined benefit (DB) pension schemes - 9.6 million as at 31 march 2022. When these schemes fail we’re ready to help. We do this by paying our members, charging a levy and investing for the long term. Read book “here”

July 23, 2023
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