In the fall issue of the Rotman International Journal of Pension Management, Ed Waitzer, the Jarislowsky Dimma Mooney Chair in Corporate Governance at York University, Canada, argues the time has come for pension fund trustees and managers to lead rather than be dragged along. This article proposes a number of steps that can be taken to better align incentives and frame decision-making for longer-term perspectives.
Divesting from the oil sector has been a boon for La Caisse’s performance, as the Canadian pension giant says its energy investments have earned billions in value-add compared to the benchmark since the inception of its climate strategy. Head of sustainability Bertrand Millot unpacks the fund’s approach in an interview with Top1000funds.com.
Chief investment officer of the world’s largest pension fund the $1.5 trillion GPIF, Hiro Mizuno, says large institutional investors must stay calm and maintain their long term investment course. He told Top1000funds.com that “long term investment is needed more than ever before”.
Last Thursday, March 12 the US Senate Democrats’ Special Committee on the Climate Crisis heard from industry experts, including Bob Litterman and Frederic Samama, on the economic risks of climate change. They all pushed for a price on carbon and for action, now.
Change is on the horizon, and where there is change, there is disruption, Mercer’s global strategic research director advises investors to be clear on timeframes, be prepared for business as unusual and position portfolios for climate change. The next decade is likely to prove more challenging — now is not the time to give up on diversification.
Being passively invested shouldn’t mean being passive with regard to responsibilities says the Church of England Pension Board which has developed a new climate transition index with FTSE Russell, LSE and TPI that is the first to incorporate forward-looking climate data.
Only 16 of the 74 largest public pension plans in the US mention ESG or responsible investing in their public documents. Scott Kalb looks at why the US is so far behind.
Scientific Beta has critiqued the proposals of the TEG on climate benchmarks, arguing they are unduly influenced by commercial interests and do little to discourage greenwashing or support decarbonisation efforts in the real economy.
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