Annual Symposium & Awards
8 October 2024, 09:30-16:45 BST, London, followed by a drinks reception


THE FUTURE OF INVESTING IN 3D – RISK, RETURN AND IMPACT

We're all actors in a financial system that impacts people and the planet in which we live. Pensions are one of those actors, tied to, dependent on and with the ability to change that system when the levers are well understood and used.

At this Pensions for Purpose Annual Symposium, we will go further than we have gone before in unpacking the current and future potential for governance, social and environmental impact integration.








We will look at best practice, debate the opportunities and challenges for climate and productive finance, and, through roundtable discussions, get views from our asset owner and adviser audience on what they need to go from disclosing to acting on impact.

Overcoming implementation challenges roundtable

At our recent Annual Symposium, our Senior Director & Community Lead, Richard Giles, opened a session on the challenges of implementing social and environmental impact, leading to table discussions on the complexity and variety of impact investing. Participants broadly agreed impactful investments should enhance financial returns rather than compromise them, with examples including high-return forestry projects in Paraguay and rewilding initiatives in Yorkshire, which are profitable and impactful.

The discussions highlighted the importance of viewing positive and negative impact holistically aiming to deliver net-positive effects across portfolios, while being aware of unintended consequences. Participants pointed out a renewable energy company, for instance, may struggle with governance issues, while a healthcare firm may be a high emitter with a significant carbon footprint, reaffirming the need for rigorous assessment.

Several challenges were aired, including the alignment of impact goals with fiduciary duty and the differing views among trustees, some of whom prefer low-carbon strategies, while others prioritise financial returns. Asset owners also face problems with transparency, definitions and effective impact reporting. Notably, there was a call for improved training to help trustees assess and understand impact investing strategies.

Operational difficulties like regulatory requirements and liquidity issues in defined contribution pensions were also mentioned. However, examples of impactful investment strategies were shared, including SDG-focused loans, social housing, and regenerative agriculture, with scalability remaining a challenge, particularly for pension trustees. To ensure credibility, participants agreed on the need for robust impact measurement and reporting with key performance indicators to ensure the credibility of impact investing.


Vimeo Video
Place-based impact investment roundtable

At our recent Annual Symposium, our Founder Karen Shackleton, led a discussion on place-based impact investing (PBII), sparking table discussions around its opportunities and challenges for local government pension scheme (LGPS) funds. Moderators captured the main points, highlighting how PBII could unlock unique local assets like leisure centres and cemeteries rarely included in pension fund portfolios. The definition of ‘place’ varied among asset owners, with some focusing on specific UK regions and others adopting broader UK, European, or global strategies.

Challenges included limited access to local assets and the need for supportive government policies to support this type of impact investing, which can be difficult to implement. Participants suggested targeted, sector-specific investment options, similar to GLIL Infrastructure (a collaboration between aligned and like-minded investors seeking investment into core infrastructure opportunities), to target areas like social housing and natural capital.

When scaling, larger asset managers often miss the mark on delivering deep-impact solutions, particularly for regions such as South London, where improving health outcomes is a priority. Smaller, more localised strategies could better address these needs but are often unavailable due to the dominance of large-scale investment models.

Discussions also touched on the need to combine place-based investing with systemic risks like climate change, with opportunities cited in solar green farms and natural capital regeneration. Blending funds and collaboration between local authorities could help to de-risk and support such projects. However, participants acknowledged the trade-offs between profitability and impact, with a cautious approach to avoiding concentrated local investments, while recognising the significant opportunities in regeneration and natural capital that are underused.


Vimeo Video
Discover our Award winners!

CONTENT AWARDS

We presented Content Awards across five categories.

Our winners were:

Judges' comments – "The way that the paper intertwines the ideas and themes is original. The paper is highly educational, explaining concepts in a clear and well-structured manner. The use of case studies brings the topic to life and though the focus is on social infrastructure, the framework for identifying opportunities is applicable across asset types. 

  • BEST IMPACT REPORT –.WHEB
Judges' comments  A highly educational, original and transparent report. Reading this report felt like learning about the cutting edge of sustainable finance. The guest interview on avoided emissions was extremely useful. The paper was packed with helpful charts and figures which helps the reader's understanding.  

Judges' comments – "This report highlighted real-world impact, and detailed analysis. It had a good use of graphics and interesting conclusions for pension funds. It wins because if there was just one paper to recommend reading  this was it.

Judges' comments – This paper recorded a survey of companies' views and what they are doingWhich sectors didn't respond was as interesting as which did, and perhaps points to where stewardship should focusScored highly on originality and insights. 

Judges' comments for Octopus – A well-researched and thought-provoking presentation and a must read for investors in this asset class, highlighting all the problems the sector had and those which have been compounded by the recent change in rates and inflation. It stated the difficulty  verging on the impossibility  of delivering the target levels of affordable housing expected by governments. 
 

Highly commended certificates were awarded to:

Judges' comments for Big Issue Invest – The strategy is original and pioneering, being the first of its kind at launch. The report educates effectively, providing a comprehensive overview of the fund while keeping it accessible to trustees who may not have a deep financial background. It offers insights into methodology and details how it collaborates. Concepts are clear and the use of case studies is great. 

Judges' comments for Isio – "The concept of layering is nuanced and original, but much of the basic information on sustainable investment is pretty widely known. Very educational for a trustee audience, the comprehensive framework is clear and relevant for trustee decision-making. The use of practical examples is great. Not too much jargon which is great for a trustee audience. Good use of visual aids also. This is a well laid out framework which will help trustee boards who are unsure of where to start. 

Judges' comments for LCP – "Well written and succinct. The article will be very helpful to lay trustees struggling to work out how their (currently understood and generally accepted) definition of fiduciary duties sits with climate and other ESG risks and will push them to think more broadly about time horizons. 

Judges' comments for Montanaro Asset Management –  A really well-structured presentation and a convincing case made for how impact can be achieved in small and mid-cap public equities. Good use of charts and figures which made the report easy to follow.

Judges' comments for Ninety One – A highly original and impactful report, educational for asset owners such as pension funds. For example, its explanation of its Transition Plan Assessment framework, applied across different asset classes, and its example of working with pension funds to deliver on net zero, is helpful for a multi-asset class asset owner aiming for net zero. 

Thanks again to our judges: Stephen Barrie of the Church of England Pensions Board, William Bourne of Linchpin, Rachel Brougham of BESTrustees Limited, Nick Buckland of Kent Pension Fund, Michelle Darracott of BESTrustees Limited and TPT Retirement Solutions, Anthony Fletcher of Apex Investment Advisory, Ellie Howes of Coal Pension Trustees Services, Sian Kunert of East Sussex County Council, Matt Lomas of Guy's & St Thomas' Foundation,  Nick Spencer of Milliman, who assessed the shortlisted content based on originality, educational insight, design and relevance for pension funds.

To see which organisations were nominated and to read the shortlisted articles see our pre-event brochure.

PENSION FUND AWARDS

Pension Fund Awards were presented across four categories:

  • BEST BIODIVERSITY STATEMENT – Wiltshire Pension Fund
Judges' comments – "The report effectively explains their climate change management, with clear, concise insights and good presentation of their net-zero journey and future goals. It highlights their carbon footprint analysis, justifying the majority comes from their EM portfolio and detailing their engagement with top emitters. They advocate for divestment from companies with weak commitments and emphasize that carbon credits should not replace internal efforts."

  •  BEST CLIMATE CHANGE POLICY – Border to Coast Pensions Partnership
Judges' comments – "The report highlights strong net-zero targets and progress, with a balanced approach to engagement, divestment, and climate-positive investments, using innovative tech and collaborations. They have explicit 2050 net-zero goals with near-term targets, surpassing interim 2025 goals, and provide a comprehensive climate strategy with insightful case studies on innovative investments. Emphasis on training and guidance for partners, detailed climate risk analysis, and leadership in public policy advocacy, including transparent disclosure of their voting policy."

  •  BEST PLACE-BASED IMPACT – Greater Manchester Pension Fund

Judges' comments – "The report provides insightful data on impact measurement, including job creation, living wage jobs, business growth, and the geographic distribution of their investments, with a standout chart highlighting alignment with place-based impact investing. Their investments focus on meeting local needs, supporting over 16,000 existing jobs, creating 7,000 new ones, and developing 4,000 homes for vulnerable people, driving economic growth in Manchester through diverse investments."  

  • IMPACT INVESTING PRINCIPLES ADOPTER – Surrey Pension Fund

Judges' comments – "They demonstrated great alignment with various frameworks and initiatives, including the UN SDGs and strong climate ambitions. Surrey targets a net-zero date of 2050 or sooner, using the SDGs as a framework for their responsible investment (RI) approach, and have updated their voting policy to align with their RI strategy. They transitioned their EM equity exposure from passive to active management, supporting a fair transition, and all fund managers are aligned with their RI policy, aiming for real-world impact through investments and engagement."

Highly commended certificates were awarded to:

  • BEST BIODIVERSITY STATEMENT – Environment Agency Pension Fund
  • BEST CLIMATE CHANGE POLICY – Wiltshire Pension Fund
  • BEST PLACE-BASED IMPACT – Wiltshire Pension Fund
  • IMPACT INVESTING PRINCIPLES ADOPTER – Smart Pension Master Trust

Read our pre-event brochure


Vimeo Video
Discover our Outstanding Community Award winner!

We presented our first Community Award this year to our Oustanding Community member.

Our winner was:

  • Jupiter Asset Management

The highly commended certificates were awarded to:

  • LCP
  • WHEB
Learn more about the Pensions for Purpose Community...

P4P Community


Vimeo Video
Meet our Content Awards judges

Here is an overview of our Content Awards judging panel. We are grateful to the judges for giving up their time to assess content for clarity, originality, educational insight, presentation and relevance for pension funds.

Stephen Barrie of the Church of England Pensions Board,

William Bourne of Linchpin,

Rachel Brougham of BESTrustees Limited.

Nick Buckland of Kent Pension Fund,

Michelle Darracott of BESTrustees Limited and TPT Retirement Solutions,

Anthony Fletcher of Apex Investment Advisory,

Ellie Howes of Coal Pension Trustees Services,

Sian Kunert of East Sussex County Council,

Matt Lomas of Guy's & St Thomas' Foundation, 

Nick Spencer of Milliman.

Read more about our judges

Vimeo Video
Pre-event brochure – Annual Symposium & Awards 2024
Our pre-event brochure includes everything you need to know about our upcoming Symposium on 8 October:

  • The agenda.
  • The speakers
  • The sponsors
  • Plus the organisations nominated for our Content and Pension Fund Awards.

Vimeo Video
Pension Fund Awards shortlist

Our Pension Fund Awards are about sharing best practice on sustainable and impact investing by pension funds. They are also about elevating investor ambitions to reach our net-zero, social and levelling-up goals. 

Congratulations to all of those who have made our shortlists, across our four award categories, see below – you are demonstrating leadership and progress at the forefront of this agenda. 

  • Best Biodiversity Statement. 
  • Best Climate Change Policy. 
  • Best Place-Based Impact.
  • Impact Investing Principles Adopter. 

The first round of judging was completed by members of the Pensions for Purpose team.  

Items pension schemes entered into the Pension Fund Awards were assessed on the following criteria:

Best Biodiversity Statement 

  • Depth and breadth of content.
  • Innovation.
  • Industry leadership.

 Best Climate Change Policy

  • Depth and breadth of content.
  • Innovation.
  • Industry leadership.

 Best Place-Based Impact

  • Meet local needs
  • Stakeholder engagement.
  • Intentionality.
  • Impact measurement. management and reporting.

 Impact Investing Principles Adopter

  • Clear definition of objectives.
  • Targets.
  • Examples of stakeholder/member communication.
  • Progress management.

The shortlisted content has now been reviewed by our respective partner and sponsor judges. Our external judges used the same assessment criteria and we are grateful for their time and support.

If you would like to hear what the shortlisted funds have been doing and what ‘good’ looks like, please join us at our Symposium & Awards on 8 October to find out who our winners are.

See shortlists
Vimeo Video
Content Awards shortlists
We are delighted to announce the shortlisted articles for our annual Content Awards, which are across five award categories:

  • Best Strategy.
  • Best Impact Report.
  • Best Climate Action.
  • Best Biodiversity Impact.
  • Best Place-Based Impact.
The first round of judging was conducted by the Pensions for Purpose team: Charlotte O’Leary, Karen Shackleton, Stephanie Windsor, David Brown, Richard Giles, Amanda Evans, Stephen Darlington, Laura Ward, Sally-Ann Lewis, Bruna Bauer and Constance Johnson.

The submissions were assessed for originality, educational insight, presentation and relevance for pension funds. On the impact categories,we focused on identifying clear evidence of positive and intentional outcomes, rather than merely addressing ESG factors.

The shortlisted content has now been sent to our external judges for review. The winners will be announced at our Annual Symposium & Awards on 8 October.

 See shortlists
Vimeo Video

Headline sponsor

Our sponsors