ESG roundup: PGGM, CPPIB, Financial Stability Board, AP2
Senior investment officials at Dutch pension fund manager PGGM and the Canada Pension Plan Investment Board (CPPIB) are among nine new members of the Financial Stability Board’s Task Force on Climate-related Financial Disclosure (TCFD) as it embarks on a second phase of work.
Eloy Lindeijer is CIO at €183bn Dutch asset manager PGGM, while Stephanie Leaist is managing director and head of sustainable investing at CPPIB.
They join the following seven other appointees to the Financial Stability Board task force:
- Bruno Bertocci, managing director and head of sustainable investors, UBS
- Richard Cantor, chief risk officer, Moody’s
- Eric Dugelay, global leader of sustainability services, Deloitte
- Udo Hartmann, senior manager of group environmental protection and energy management, Daimler
- Diane Larsen, Americas assurance markets leader, Ernst and Young
- Mark Lewis, managing director and head of European utilities equity research, Barclays
- Jon Williams, partner, sustainability and climate change, PwC
The task force now has 31 members.
Chaired by Michael Bloomberg, it is developing recommendations for what constitutes meaningful climate-related corporate financial disclosures by companies for use by investors and other stakeholders.
It has, however, also indicated that it will look at drawing up recommendations for disclosures by institutional investors and asset owners.
In other news, Swedish buffer fund AP2 is joining the advisory board of an initiative launched by Norwegian climate research institute CICERO.
CICERO Climate Finance was launched with start-up money provided by the Norwegian Ministry of Foreign Affairs.
It will focus on translating climate science research into information relevant to investors.
The advisory board comprises 12 members plus an observer.
BlackRock and the World Bank Treasury are represented on the board, as are several Scandinavian banks, the Norwegian government and industry associations.
The SEK300bn (€32bn) Swedish buffer fund will be represented by Ole Petter Langeland, head of macro, exposure, fixed income, foreign exchange and trading at AP2.