How can pension plans and financial managers boost sustainable investing? By forming a group to do so.

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British asset owners and managers are forging an alliance with that in mind. It’s in response to greater calls from regulators in the country to further the fight against climate change and promote other societal goals.

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The steering group that convened this week is led by the Pensions and Lifetime Savings Association (PLSA) and the UK Investment Association (IA), and will be co-chaired by PLSA Chair Richard Butcher and Archie Struthers, the global head of investment governance and oversight at Standard Life Aberdeen, the group said Wednesday.

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“The relationship between asset managers and asset owners is vital if we are to achieve the objective of investing for good,” Butcher said in a statement.

The formation of the group follows a push from the country’s financial regulatory body, the Financial Conduct Authority (FCA), to build a regulatory framework for sustainability, such as for climate change or workforce pay.

Part of the discussion in the working group will address ongoing criticism of sustainable investments, including the lack of a cohesive set of definitions, as well as data that is often considered inconsistent.

Members of the group will discuss how manager disclosures can align with sustainability goals for clients; how asset owners can ensure stewardship remains central to manager selection and performance assessment; and how both contractual and non-contractual arrangements can reflect stewardship expectations going forward.

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