July 2024
12Jul

Sustainable Investing in Pensions: Top Tips for Sponsors of Pension Schemes

 By Accounting for Sustainability This top tips guidance is written for organizations that sponsor a pension scheme on the why and how to engage with your pension trustees on sustainable investing. Just as more and more companies are embedding social and environmental risk and opportunity into strategy and decision making, it is vital that their pension schemes follow suit. The impact that climate change and other environmental, social and governance (ESG) risks can have on value and returns is driving changes across...

July 12, 2024
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April 2024
19Apr

Pension Fund Trustees and Fiduciary Duties: Decision-making in the context of Sustainability and the subject of Climate Change

By Financial Markets Law Committee For pension funds, setting investment strategy, principles and policies and making investment decisions have all become more challenging in the context of sustainability and the subject of climate change.  This has given rise to renewed uncertainty over what the “fiduciary duties” or trust duties owed by trustees of pension funds require in this context. Since the pensions sector is a major allocator of capital, legal uncertainties affecting pension fund trustees have the potential to adversely affect...

April 19, 2024
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November 2023
10Nov

Sustainability of pension schemes: Building a smooth automatic balance mechanism with an application to the us social security

By Frédéric Gannon, Florence Legros & Vincent Touzé We build a “smooth” automatic balancing mecanism (S-ABM) which would result from an optimal tradeoff between increasing the receipts and reducing the expenditures of a pension scheme. The S-ABM obtains from minimizing a sum of discounted quadratic loss function under the constraint of an intertemporal budget balance. One advantage of this model of “optimal” adjustment is its ability to analyse various configurations in terms of ABMs by controlling the adjustment pace. Notably, this S-ABM...

November 10, 2023
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10Nov

In search of financially sustainable pension systems: three benchmark models

By Ekaterina Cuéllar, Daniel Gamboa & Waldo Tapia  One of the great dilemmas facing countries around the world is to define a pension system that is financially sustainable in the face of increasing life expectancy, falling fertility rates and the consequent lack of generational replacement. Globally, pension reforms in countries with more advanced aging processes have focused on implementing parametric reforms and incorporating automatic adjustments of the main parameters to share productivity, financial and demographic risks. In this article we present the advantages...

November 10, 2023
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July 2023
23Jul

Providing security, building sustainable futures

By Pension Protection Fund  Our purpose is to protect the future of millions of people throughout the UK who belong to defined benefit (DB) pension schemes - 9.6 million as at 31 march 2022. When these schemes fail we’re ready to help. We do this by paying our members, charging a levy and investing for the long term. Read book “here”

July 23, 2023
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June 2023
09Jun

Pension Systems (Un)Sustainability and Fiscal Constraints: A Comparative Analysis

By Burkhard Heer, Vito Polito & Michael Wickens  Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space exhaustion probability reflecting demographic uncertainties. These measures reveal that the pension spaces of advanced economies are strikingly different. Most nations have little scope to further finance pensions out of labour income taxation over the next thirty years....

June 9, 2023
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October 2022
14Oct

Mercer CFA Institute Global Pension Index 2022

By Mercer & CFA Institute Mercer and the CFA Institute released its 14th annual Mercer CFA Institute Global Pension Index (MCGPI). Iceland’s retirement income system has once again topped the list, with The Netherlands and Denmark retaining second and third places respectively in the rankings. As more employers have stepped away from defined benefit (DB) plans, the study also investigates the challenges and opportunities with the global shift towards defined contribution (DC) plans where individuals bear increased financial responsibility. The MCGPI...

October 14, 2022
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July 2022
08Jul

Measurement of ESG Performance: A Study of Indian Companies

By Preeti Sharma, Priyanka Pandey, Vijay Kumar Jain & R. C. Dangwal The present study aims to construct an inclusive, Literature-based, and statistically vetted environmental, social and corporate governance disclosure (ESGD) index, measure the item-wise, theme-wise, and factor-wise ESG performance of the top 80 Indian companies for the period 2013-2016, and examine item-wise, theme-wise and factor-wise variations in ESGD. Content analysis is used to measure the ESG disclosures of the sample companies. To test the variations, skewness, kurtosis, Levene’s, Chi-square,...

July 8, 2022
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December 2021
03Dec

Socially responsible investing

By Charles Stanley Direct The human impact on the environment means changes to the way society and industry operates are necessary, while societal problems such as poverty and inequality need to be tackled. Choosing investments that take account of these issues is what we call “investing with conscience”, or socially responsible investing. Get the book here 419 views

December 3, 2021
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October 2021
27Oct

Market-led Sustainability is a ‘Fix that Fails’… but It May Have Been the Necessary ‘Defence at First Depth’

By Duncan Austin Humankind is a complex system suddenly pitched into adaptive crisis. From this bigger perspective, our ‘first response’ to the crisis has overwhelmingly been a voluntary market-led response under various banners – SRI, CSR, ESG, ‘impact’ etc. While this voluntary market-led (VML) meta-strategy has been a beneficial, and possibly inevitable, first response, it is becoming clear it is insufficient as an adaptive solution and that its pursuit now forestalls deeper changes required. We need to graduate from a VML...

October 27, 2021
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