Worlds largest public pensions in breach on climate change
A handful of public pension funds, mostly based in Europe, are showing true leadership on climate change, demonstrating robust approaches to aligning their investments with the low-carbon transition. However, over 60 per cent of pension funds have little or no strategy on climate change, according to a new global assessment of the sector
‘Pensions in a changing climate’ is the first in a series of four reports on the pensions sector produced by the Asset Owners Disclosure Project (AODP), which is part of the responsible investment organisation ShareAction. The report assesses the world’s 100 largest public pension funds (with combined assets worth over $11 trillion) against the TCFD recommendations. This is the first published analysis of pension funds using the TCFD framework. It highlights the value of the TCFD framework in rigorously and fairly assessing financial institutions. Funds are rated from AAA to D, with an X-rating reserved for those who show no evidence of responding to climate change.
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