March 2024
04Mar

UK. Make My Money Matter publish report analysing leading pension providers’ action on climate change

A recent report by Make My Money Matter sheds light on the relationship between finance and environmental stewardship, revealing both the potential and the shortcomings of our pension investments. The UK Pensions: Climate Action Report highlights the stark reality that while many of us contribute to pensions, few of us truly understand where our money goes and the consequences of it. Often, out of the £3 trillion that exists in UK pensions, this money is financing industries that perpetuate environmental...

March 4, 2024
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01Mar

Pension funds’ role in Brazil’s farmland controversy

Global pension funds are implicated in the deforestation of Brazil's Cerrado, impacting local communities and climate goals. In short: Armed men, allegedly hired by land claimants, have forcibly displaced local communities in Brazil's Cerrado, destroying homes and livelihoods. Major global pension funds, including TIAA, have invested billions in Brazilian farmland, contributing to deforestation and land conflicts. The destruction of the Cerrado, a key carbon sink and biodiversity hotspot, poses significant challenges to Brazil's climate commitments and local ecosystems. Key quote: “There’s a...

March 1, 2024
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01Mar

US. New York Fed Case Study Finds Pension Funds Invested More Frequently in Preserving Existing Affordable Housing than New Development

The Federal Reserve Bank of New York today released a case study focused on pension fund investments in affordable apartments. The case study, “Alternative Investments in Community Development: A Case Study of Pension Fund Investments in Multifamily Affordable Housing,” is based on a survey of a non-representative sample of seven pension funds that made commitments totaling over $2.7 billion for investments in affordable apartments during a five and a half-year period ending June 2023. The case study also found...

March 1, 2024
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February 2024
29Feb

UK. Pioneering Responsible Investment: How Pension Schemes Lead with ESG Initiatives

In an era where environmental, social, and governance (ESG) factors are becoming paramount in investment decisions, pension schemes and asset managers are taking significant strides towards responsible investing. Notable entities like Scottish Widows, Railpen, Nest, AXA Investment Managers, Franklin Templeton, and Legal & General Investment Management (LGIM) are setting benchmarks by emphasizing initiatives that not only foster financial returns but also contribute positively to society and the environment. Championing Social Factors in Investments Scottish Widows has made headlines by focusing on...

February 29, 2024
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28Feb

Govt urged to consider new measures to attract pension investment in the UK

The Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) have called on the government to consider taking further action in four key areas to attract greater pension investment in UK growth. The associations stated that whilst progress on increasing pension investment in UK growth had been good, more needs to be done, identifying four key measures that could help improve growth. The government was urged to consider ensuring better adequacy in defined contribution (DC) pensions and...

February 28, 2024
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28Feb

US. NYC Pensions Are Sued for Shedding Fossil Fuels

Monica Weiss attended her first fossil-fuel divestment protest on a frigid February day in 2015. She joined college students, financial experts, faith leaders, and then-New York City Public Advocate Letitia James in front of the New York Stock Exchange to demand that the city’s five public pension funds factor the financial risks of climate change into their investment decisions. Over the course of her two-decade career teaching first and third grade in New York City public schools, Weiss infused nature...

February 28, 2024
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27Feb

Uganda Parliament Pensions Scheme to Reduce Equity Investments in Kenya

By Kenyan WallStreet   Uganda’s Parliamentary Pensions Scheme (PPS) is considering reducing its investments in Kenya due to macroeconomic challenges. The scheme’s total equity assets stand at UShs. 24 billion, out of which two percent is in Kenya. In its most recent financials, the scheme reported a gross investment income UShs. 55 billion and total assets of 425 billion. The growth in total assets marked a significant growth from UShs. 349 billion in 2021/2022 to Shs. 425billion in 2022/2023. “We…propose to reduce...

February 27, 2024
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26Feb

Investors trying to change the world: Why climate investing is so difficult

Responsible asset owners are preparing their portfolios for the climate transition, reducing holdings in companies with high emissions and pledging billions to climate investments. But climate proofing portfolios is proving one of the most arduous and complex challenges investors have ever faced. Like concerns that many of the underlying companies in their portfolios haven’t meaningfully reduced their emissions; or the fact investors know they need to continue to provide capital to hard to abate sectors yet the financial rewards for...

February 26, 2024
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26Feb

Global pension assets recover to pass US$55trn

Global pension assets rose by 11 per cent on aggregate to US$55.7bn in 2023, according to the Thinking Ahead Institute’s (TAI) latest Global Pension Assets Study. Its previous 2022 study measured the largest annual fall in global pension assets since the global financial crisis following a decade of uninterrupted growth. At the end of 2022, global pension assets stood at US$50.2trn. The UK overtook Canada to become the third largest pension market by total assets, which stood at US$3.2trn at the end of 2023. The...

February 26, 2024
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23Feb

Canada. CDPQ posts 7.2% return in 2023

Caisse de Depot et Placement du Quebec, Montreal, delivered a net return of 7.2% in calendar year 2023, slightly below the benchmark return of 7.3%. For the five-year period, CDPQ returned an annualized 6.4%, above the 5.9% of the benchmark, said a Feb. 22 release. Over the 10-year period, the annualized return was 7.4%, compared with 6.5% for the benchmark. As of Dec. 31, CDPQ's net assets totaled C$434 billion ($327.4 billion), up from C$402 billion at the end of 2022. In...

February 23, 2024
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