Agree with #MarkCarney that #PensionFunds must change invest strategy to combat #climatechange⏩#netzero...but UK is +can
-change investment practices
-drive diff behaviour by companies
- finance a green industrial revolution
-continue to sustain DB /DC pensions
Thread on how:1/
Firstly, there are law changes and disclosure practices to drive behavioural change to climate friendly investment.This is already happening:
- With UK Govt 1/10/19 #Environmental Regs (#ESG Regs)
- plus action in parliament: ftadviser.com/pensions/2019/… 2/
The Task Force on Climate Related Financial Disclosures (#TCFD) needs to do more:
- we need fuller #disclosure of #climaterisk/management of climate risk policies worldwide + in UK: this is a work in progress, but a lot has been done:see June 19 report 3/: fsb.org/2019/06/tcfd-r…
We are on a mission to nudge, cajole and legislate pension professionals + asset managers into real change on this issue 4/: gov.uk/government/spe…
There is scrutiny already being applied directly by UK govt to ensure change 5/:
ftadviser.com/pensions/2019/…
It is rightly recognised that the UK is leading the rest of the EU in responsible investment - see @UKSIF report amongst others 6/:
uksif.org/wp-content/upl…
It is now proven that #ESG #Investing does provide both short term (and obvious long term) returns for pension funds. There is extensive evidence, but see 1 recent #FT piece showing #Environmental investing does not lead to an income sacrifice 7/: ftadviser.com/investments/20…
And ... the UK can lead the way with a green financial revolution - see my May 2019 @thetimes article (non paywall) on how #Capitalism can save the day Ends/ :
guyopperman.co.uk/articles/220519
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