Established in 1974, East Sussex Pension Fund (“ESPF”) provides pension benefits for employees of the County Council, other councils and public authorities of East Sussex. As at March 31, 2020, they had GBP3.479 billion of assets under management.
As part of its responsible investment approach, ESPF ensures that its external managers integrate environmental, social and governance considerations (“ESG”) into their investment analysis and provide transparency through ESG reporting. With regards to climate change, ESPF takes part in collaborative engagements through ESG-related industry groups such as Climate Action 100+ and the Institutional Investors Group on Climate Change (IIGCC). To further its commitment to responsible investing, ESPF became a signatory to the UN Principles for Responsible Investment in December 2020.
Top 1000 Funds: Asset managers have a chance to really impact the real economy with their commitment to net zero. The Net Zero Asset Managers Initiative now has 73 signatories and one third of assets in the industry committed. It’s reached tipping point, says one of the initiatives’ founders Ed Mason.
Private Equity International: The country’s limited partners will continue to favour corporate engagement over exclusionary screening of controversial sectors. [Full article available to Private Equity International subscribers.]
GreenBiz: After the murder of George Floyd in May, Amazon’s official Twitter account tweeted: "Together we stand in solidarity with the Black community — our employees, customers and partners — in the fight against systemic racism and injustice."
Institutional Investor: Allocators and consultants shared concerns about staff mental health in a survey of 700 institutional investors.
Wall Street Journal: A billionaire British hedge-fund manager’s campaign to make large public companies set near-term targets for carbon-emission cuts is encountering challenges from U.S. corporations and money managers. [Full article available to Wall Street Journal subscribers.]
ESG Today: The International Organization of Securities Commissions (IOSCO) announced today the launch of a Technical Expert Group (TEG) tasked with assessing the technical recommendations to be developed as part of the International Financial Reporting Standards Foundation’s (IFRS) sustainability standards project.
Reuters: A group of religious and socially conscious investors and other funds are ramping up pressure on Western companies over alleged human rights abuses in China’s Xinjiang region, highlighting the challenges for brands trying to maintain their business ties amid rising tensions.
CNN: Worsening inequality, trillions of dollars in economic damage and depressed economic growth. Those are the outcomes that economists fear we will face unless the world aggressively confronts the climate crisis.
Institutional Asset Manager: Legal & General Investment Management (LGIM), one of the world’s largest asset managers, has released its tenth annual ‘Active Ownership’ report, which reveals that over the course of 2020, it increased company engagements by 21 per cent and continued to vote globally, opposing the election of more than 4,700 company directors, as it sought to effect positive change at companies in which it invests.