FEM logo
Fund EcoMarket

the sustainable, responsible and ethical investment information hub

Pension Funds and Social Investment – final government report

sun-and-clouds-iStock_000004631244XSmall1This morning, 18 June 2018, the Government published its final response to the 2017 Law Commission report on pension funds and social investment. The following information was published today by UKSIF (whilst I was working on our MiFID2 response*!):

  • “The foreword is written by Guy Opperman MP, Minister for Pensions and Financial Inclusion, and Tracey Crouch MP, Minister for Sport and Civil Society. It notes the Government’s intention to take forward the Law Commission’s recommendations and announces a consultation from DWP on trust-based pensions with a view to implementing the changes by October 2019.Specifically this will mean a change to the law to require trustees ‘to consider the impacts on their investments from a changing environment, corporate governance and social trends’.
  • In addition, trustees will be expected to have a policy on how they take account of members’ view, such as on social impact. In an equally significant move, the FCA has also announced it will also take forward and build upon the recommendations for contract-based pension schemes, by consulting on rule changes for Independent Governance Committees (IGCs), although this will not take place until next year.

This is hugely significant news which is likely to provide a huge boost for responsible investors in the UK. It represents a big win for UKSIF, our members and everyone in the responsible investment sector who has been campaigning on this issue over the past five years and longer.”

I would like to thank UKSIF for both its hard work in this area and also for circulating today’s update.  This has been a major piece of work and indeed is a big win for our sector.

My involvement in this was earlier in the process and I am delighted that the linked PFS guide references our Fund EcoMarket tool (as did the earlier government report) – as I had a number of meetings with contributors to the government report.

Next stop (for those who are interested!) please respond to MiFID2 consultation by 21 June 2018, this is a further major ESG / SRI milestone!

*see previous blog.

 

 

Further UKSIF comments.

Sign Up to our Newsletter

If you are a Financial Services Industry professional you can sign up for our newsletter

Click Here

Latest News

Top 50 Fund EcoMarket searches April 2019
May 7, 2019

In a month when climate change was constantly in the news it will surprise few to see that Fund EcoMarket users regularly searched for fund options listed as: ‘sustainability themed’, ‘environmentally themed’, ‘environmental policy’, ‘climate change policy’, ‘avoids coal, oil & gas majors’, ‘invests in clean energy / renewables’ . The high ranking of ‘animal […]

April ‘inSRI’ newsletter link
May 2, 2019

For a quick round up of our activity (Feb – April 2019) and other SRI related news (that will hopefully be of use to financial services intermediaries!)  here is a link to our latest ‘inSRI’ Newsletter.  This includes a big ‘welcome’ to EdenTree our most recent sponsoring partner!         https://mailchi.mp/c28ca44c4068/sri-services-and-fund-ecomarket-news-april-2019  

UKSIF ‘Ownership Day’ fund manager survey ‘Oil Pressure Gauge’
May 2, 2019

On 1 May UKSIF celebrated its annual ‘Ownership Day’ with an event at the London Stock Exchange and the publication of a fund manager survey that looks into how different managers view the oil industry ‘Oil Pressure Gauge’ .  Its focus is around ‘responsible ownership’ or what many now call ‘stewardship’ and the role it […]