By Susanna Rust2021-02-18T15:20:00+00:00
A more joined-up approach across stakeholders is needed to improve UK pension scheme engagement with climate change, according to a new report from the Pensions Policy Institute (PPI), a think tank.
The report triggered a call from the report sponsor, Phoenix Group, for the ESG “ecosystem” to be simplified.
The PPI’s report delves into the attitudes and behaviours affecting consideration of climate change in pension scheme investment. It said pension schemes would need to take direct action, but also flagged the need for a more coherent approach across government and industry.
According to the PPI report, the latter includes establishing a consensus across all stakeholders – government, schemes, asset managers and platform providers – on goals, and the practical steps needed to achieve them.