Northern LGPS has become the latest UK pension investor to announce a goal of aligning its investment portfolio with the Paris Agreement.
Disclosing it had partnered with the campaign ‘Make My Money Matter’, the £46bn (€50bn) local authority pension asset pool said the collaboration was part of its “ambition to invest 100% of assets in line with the Paris Agreement on climate change, and help members understand the importance of knowing where their pensions are invested”.
“MMMM shares NGLPS’ view that pension assets can be invested to create a sustainable, better future without compromising on returns,” the local authority pool said.
“This includes meeting the Paris Agreement to achieve net zero carbon emissions by 2050 and exploring the feasibility of a 2030 target in line with the IPCC’s 1.5°C pathway.”
Councillor Ged Cooney, chair of the NLGPS, said: “Collaboration is critical in driving positive change. NLGPS’ partnership with Make My Money Matter confirms our commitment to sustainable investment.”
The pool said active shareholder engagement was critical to its commitment to achieving net-zero carbon emissions by 2050.
NEST, BT Pension Scheme and South Yorkshire Pensions Authority have all announced net-zero goals this year, although with different deadlines.
South Yorkshire is part of the Border to Coast asset pool, which has not announced a carbon neutrality goal and has said it would be looking to bring it “on this journey with us”.
The Make My Money Matter campaign was launched earlier this year by Richard Curtis, co-founder of Comic Relief. One of the ways it has expressed its goal is with the call “Let’s ensure all pensions help build a better world”.
Truvalue Labs-FactSet deal
Truvalue Labs, which applies artificial intelligence (AI) to uncover environmental, social and governance information, is to be acquired by FactSet, a financial information provider.
The transaction is expected to close later this year, driving further consolidation in the ESG data and analytics market.
Truvalue clients include Brunel Pension Partnership, NN Investment Partners and Calvert Research & Management. Earlier this month it announced a suite of products to help investors measure company alignment to the UN Sustainable Development Goals “based on real-world actions and impacts”.
“Client demand for valuable, up-to-date ESG signals is high”
Phil Snow, CEO of FactSet
Phil Snow, CEO of FactSet, said: “Truvalue Labs provides detailed and actionable ESG scores backed by a credible body of academics. ESG funds have seen record inflows this year and client demand for valuable, up-to-date ESG signals is high.
“We believe this acquisition will yield compelling results for both firms and our joint client bases.”
Hendrik Bartel, CEO and co-founder of Truvalue Labs. “[FactSet’s] client base, distribution, content and technology platform, as well as a strong culture fit will help us expand our reach and amplify the actionable ESG insights we can provide the investment community.
“FactSet’s commitment to helping clients leverage ESG content that matters matches our own.”
Banking group seeks civil society input
UNEP FI, the body co-ordinating the Principles for Responsible Banking, is establishing a civil society advisory body and has launched a call for applications.
It said the body would be a unique forum and would put into practice at the collective level signatories’ commitment to “proactively and responsibly consult, engage and partner with relevant stakeholders to achieve society’s goals”.
“It is a key mechanism to hold the community of signatory banks accountable and ensure that they deliver on their commitments with ambition and transparency,” it added.
The advisory body is to have 12 members, five representing different geographies, five for different areas of expertise, and two for different stakeholder groups.
The Principles for Responsible Banking launched in September 2019 and now have 185 signatories.
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