UK. Parliament pension fund makes ESG investments
The scheme’s annual report revealed that the fund is integrating environmental, social and governance issues throughout its investment process, while making a number of commitments to ESG-aligned mandates throughout the year to March 2021.
Read also UK. DWP confirms GMP revaluation rate reduction
First, the scheme invested in the BlackRock Global Renewable Power Infrastructure Fund III, making its first contribution in August 2020, with further capital calls made later in the year.
Read also From human rights to recycling bins: how can you define ‘ethical investing’?
The target allocation to the renewable fund is 5 per cent of scheme assets. As of the end of March 2021, 3 per cent or £2.6mn was allocated to the fund.
Read also UK. More universities join strike action over pay and pensions
During the year, the scheme decided to restructure its passively managed equities portfolio, by converting its regional market-cap weighted equity mandate with BlackRock to a global, low-carbon approach with the same manager.
The scheme has also allocated 30 per cent of equities to a global sustainable multi-factor equity mandate managed by Schroder Investment Management.
Read more @Pensions Expert
550 views
