Italian pension funds have set out key ESG priorities to reinforce their engagement efforts with investee companies this year. Environmental topics include integrating climate risks into corporate risk management, adopting transition plans, and developing strategies for climate adaptation.
Pension funds will also focus on the alignment of companies’ business activities with the EU Taxonomy, disclosing environmental data through Carbon Disclosure Project surveys, and ensuring emissions targets are consistent with Science-Based Targets initiative standards.
The priorities were published in a joint statement by industry association Assofondipensione and the Forum per la Finanza Sostenibile, which are leading the engagement campaign on behalf of the pension funds.
On social issues, engagement will centre on a fair and inclusive transition to a climate-neutral economy, workplace safety, sustainability across value chains, community relations, generational equity, and wage equality.
In the area of corporate governance, pension funds will address shareholder approval of climate transition plans, gender equality, remuneration structures, tax and lobbying practices, anti-corruption measures, and ethical standards related to the use of artificial intelligence.
The campaign began with a letter to target companies, with follow-up meetings planned during the Euronext Sustainability Week, hosted by Borsa Italiana in Milan this September.
“We strongly believe in engagement as a fundamental lever for promoting ESG values and sustainable economic development,” said Andrea Mariani, general director of Fondo Pensione Pegaso and secretary of Assofondipensione.
“This is not just an ethical choice, but a strategic vision consistent with our long-term mission: safeguarding members’ savings and protecting the future, also promoting economic growth.”
Fondo Pegaso is among the signatories of the letter, along with Cometa, Fondo Gomma Plastica, Alifond, Fondo Pensione ARCO, Fondo Pensione Byblos, Fondoposte, Previmoda, and INARCASSA, the first-pillar pension fund for architects.
The pension funds are working with Frontis Governance and adviser Nummus.Info to coordinate engagement with companies in Europe, the US and Canada.
In total, 53 investors signed the letter, including asset managers such as Fideuram, Nordea and Azimut, banks, and insurance companies.
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