Climate crisis Archives - Page 17 of 34 - Pension Policy International

29JunJune 29, 2023

UK pension funds still holding £88bn in fossil fuels, despite increased climate commitments

UK-based pension schemes have more than £88bn invested in fossil fuel firms, the equivalent of £3,000 per pension policyholder. That is according to Make My Money Matter, which has analysed the fossil fuel investments of more than 50 of the nation’s largest pension schemes. Most of these schemes have net-zero targets but are yet to completely stop investing in fossil fuels. While some fossil fuels are likely to be used in a net-zero world, Net-Zero Tracker recently confirmed that no major...

June 29, 2023

NewsClimate crisis, ESG, Investment, UK

26JunJune 26, 2023

CEO of Malaysia’s largest pension fund warns body could divest from companies not committed to ESG goals

Even as Malaysian firms are encouraged to take a step-by-step approach towards achieving environmental, social and governance (ESG) compliance, they should not be disregarding ESG issues, or this could put them at risk of having the country’s largest pension fund withdraw its investments. In one of his strongest warnings issued to-date, Datuk Seri Amir Hamzah Azizan, chief executive of Malaysia’s Employment Provident Fund (EPF), said the fund will divest from companies not committed to ESG goals. Speaking at a session on...

June 26, 2023

NewsClimate crisis, ESG, Investment, Malaysia

23JunJune 23, 2023

Shell Dumped by Church of England Pensions Due to Oil Risk

The Church of England Pensions Board said it had decided to divest its holding in Shell (SHEL.L) over what it said were insufficient plans to align its strategy to the goal of limiting global warming to 1.5 degrees Celsius. The Board, which up to 2022 led engagement with Shell on behalf of the CA100+ climate-focussed investor group, has around 1.35 million pounds ($1.72 million) invested in Shell of its total 3.2 billion pounds in investments. The Church of England's separate 10.3...

June 23, 2023

News, UncategorizedClimate crisis, Pension Investment, UK

21JunJune 21, 2023

Finnish pension giant invests €500m in newly launched Europe climate-action ETF

Finnish pension giant Ilmarinen Mutual Pension Insurance has invested more than €500m in Amundi’s new MSCI Europe Climate Action Ucits ETF. The fund tracks an index designed to identify European companies assessed as the top 50% sector leaders in terms of their positioning and actions relative to the climate transition. Notably, the ETF gives investors an alternative to ESG and Climate ETFs linked to the Paris-aligned benchmark (PAB) and EU Climate Transition benchmark. The index methodology tracks metrics including carbon intensity, science-based...

June 21, 2023

NewsClimate crisis, Finland, Investing

19JunJune 19, 2023

UK. Fifth of savers want oil excluded from their pensions

A growing number of pension savers would like to see the oil sector completely excluded from their pension fund's investments. Some 21 per cent of pension savers say they want oil to be axed from their pension, according to a survey from online pension provider PensionBee. This has jumped from 15 per cent of pension savers last year. Alongside oil, the main investments people want excluded from their pensions are companies contributing to deforestation, habitat destruction and predatory lending. Pension savers also believe...

June 19, 2023

NewsClimate crisis, Investment, UK

05JunJune 5, 2023

California, New York pension funds vote against Toyota chairman

Two of the largest U.S. public pension funds have voted against the re-election of Toyota Motor Corp (7203.T) Chairman Akio Toyoda, shareholder voting records showed, sharpening the focus on the automaker's annual meeting later this month. The California Public Employees' Retirement System (CalPERS) and the Office of the New York City Comptroller also voted for a resolution urging Toyota to improve disclosure of its lobbying on climate change, according to postings by the funds. Two leading proxy advisory firms last week...

June 5, 2023

NewsClimate crisis, Investment, Pension Management

02JunJune 2, 2023

Aegon UK to invest £500m in climate solutions by 2026 in net zero push

Aegon UK has launched a climate action roadmap geared towards achieving net zero emissions by 2050, warning the time for "bold climate action" is now. Announced yesterday, the insurance, pensions and asset management firm's net zero target covers its core business as well as financed emissions for its workplace default pension funds. Aegon UK also promised to take "concrete short-term steps" to slash its emissions in half by 2030, which it said would "support making customers' investments more resilient to shocks". Crucially,...

June 2, 2023

NewsClimate crisis, Investment, Pension Management, UK

10MayMay 10, 2023

US. New York State Common reaches deal with 4 companies to cut emissions

New York State Common Retirement Fund, Albany, reached agreements with four U.S. companies to compel them to set targets to reduce their greenhouse gas emissions and regularly report on their progress, said New York state Comptroller Thomas P. DiNapoli, sole trustee of the $242.3 billion pension fund, in a news release Tuesday. As a result of these agreements, the pension fund has withdrawn its shareholder resolutions with the companies. The four companies are Carrier Global Corp., a heating, ventilation and air...

May 10, 2023

NewsClimate crisis, Pension Management, US

10MayMay 10, 2023

UK. Church of England fund to vote against Shell chair over climate concerns

The Church of England Pension Board said on Tuesday it would vote against Shell's (SHEL.L) chair and directors at its upcoming annual meeting over "signals" the energy giant could revise commitments to fight climate change. Proxy adviser PIRC also recommended investors vote against the energy company's chair and oppose its annual report for "failing to address climate risks by setting adequate targets". Chief Executive Officer Wael Sawan, who took office in January, said in March that Shell was reviewing its plan...

May 10, 2023

NewsClimate crisis, Pension Management, UK

08MayMay 8, 2023

Australia’s big pension funds boost fossil fuel investments, activist group says

Australia's 30 biggest pension funds increased their investments in key coal, oil and gas producers by 50% in 2022 despite the funds' long term commitments to net zero carbon emissions, environmental activist group Market Forces said. Superannuation or retirement funds raised their investment to more than A$34 billion ($23 billion) in companies most responsible for expanding fossil fuels, Market Forces said. "Super funds are making a mockery of their own commitments to net zero by buying up wholesale in companies expanding...

May 8, 2023

NewsAustralia, Climate crisis

June 2023

UK pension funds still holding £88bn in fossil fuels, despite increased climate commitments

CEO of Malaysia’s largest pension fund warns body could divest from companies not committed to ESG goals

Shell Dumped by Church of England Pensions Due to Oil Risk

Finnish pension giant invests €500m in newly launched Europe climate-action ETF

UK. Fifth of savers want oil excluded from their pensions

California, New York pension funds vote against Toyota chairman

Aegon UK to invest £500m in climate solutions by 2026 in net zero push

May 2023

US. New York State Common reaches deal with 4 companies to cut emissions

UK. Church of England fund to vote against Shell chair over climate concerns

Australia’s big pension funds boost fossil fuel investments, activist group says