Report: Just 5% of UK pension funds possess a climate change policy
Just 5% of the UK’s largest pension fund managers have a specific policy on climate change in place, despite almost three-quarters (74%) claiming to acknowledge the risks that climate challenges pose to the finance sector.
None of the companies surveyed by Pinsent Masons were able to confirm specific targets for decarbonising their own operations
The research, conducted by international law firm Pinsent Masons, surveyed 43 UK pension fund managers with £479bn in assets under management on their approach to sustainability.
The survey findings, published on Monday (5 November), reveal that only 12% of the firms have developed or adopted a metric for measuring the sustainability of their investments, while less than half (44%) discuss climate change in their pension reports.
None of the companies surveyed were able to produce specific targets for investment in low-carbon, energy-efficient or other sustainable assets, or for decarbonising their own operations.
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