CEOs urged to invest ‘sleeping giant’ corporate pensions in sustainability
The heads of the world’s largest corporate and investor sustainability initiatives have called on the private sector to mobilise the trillions locked up in corporate pension funds and invest in green projects.
While companies have made progress at integrating sustainability into their operations, not enough is being done to ensure that their financial investments – pension plans in particular – align with their own sustainability values, the United Nations-backed Principles for Responsible Investment (UNPRI) and the United Nations Global Compact (UNGC) have said.
Corporate pension plans represent “a sleeping giant” in the push to achieve the United Nations’ Sustainable Development Goals, said Lise Kingo, chief executive officer and executive director, UN Global Compact and Fiona Reynolds, managing director, UNPRI, in a joint statement.
“When we consider the capital that will be needed to achieve the Sustainable Development Goals, the multi-trillion-dollar corporate pension industry needs to be activated to join other actors in private finance that have aligned to the 2030 [SDG] Agenda,” they said.
Full Content: Eco Business
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