UK. Pension chiefs encourage company stakeholder engagement
A group of pension executives has challenged companies to engage with their stakeholders and intensify their efforts to reach net zero emissions.
The statement came in a letter to the Financial Times, signed by leaders from across the defined benefit and defined contribution spaces, Local Government Pension Scheme funds and private plans who are collectively responsible for more than £675bn in assets.
Brunel Pension Partnership’s chief responsible investment officer Faith Ward, Nest’s chief executive Helen Dean and BT Pension Scheme Management’s CEO Morten Nilsson were among the signatories.
“Long-term value is most reliably generated by companies led with a clear sense of purpose that guides their strategy and informs their values,” the letter stated.
“We believe that the growing emphasis being placed by companies on sustainability, and the drive to net zero, needs to intensify.”
The letter responds to criticism of stakeholder capitalism as “woke”, describing strong engagement over sustainability as “a powerful form of capitalism that unleashes mutually beneficial relationships to create long-term value”.
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