As part of the London Climate Action Week, on 1 July, Sustineri, Pensions for Purpose and The Prince’s Accounting for Sustainability Project (A4S) co-hosted a roundtable discussion at Chatham House on The Role of UK Pension Funds in the Low-Carbon Transition. Representatives from local government and occupational pension schemes, and the policymaking and regulatory community, took the opportunity to discuss how they can individually and collectively respond to the climate emergency, addressing the challenges, risks and opportunities that it presents.
Key guest speakers were Guy Opperman, Under-Secretary of State for Pensions and Financial Inclusion at the Department for Work and Pensions (DWP), and Professor Jim Skea CBE FEI FRSA HonFSE, Chair of Sustainable Energy, Imperial college and Co-Chair IPCC Working Group III.
The Minister’s remarks - which addressed head-on the actions that pension funds and trustees can take, the power that they possess to drive change, and the “massive role” they have in terms of the transition - can be accessed here.
The co-hosts of the event also captured and distilled the key takeaways of a rich and varied discussion. Under the Chatham House rule, there are no remarks individually attributed. The tenor of the interventions around the table was that climate and the transition are being taken seriously by some pension funds, but that much more needs to be done - especially against the backdrop of the growing urgency of the challenge - and that, for their part, pension funds would welcome a more coherent approach across Whitehall on this agenda that also connects with the wider ecosystem. To read the key insights please click on the Learn More button below.
As a backdrop for our discussion, Sustineri and A4S published a joint article in the FT’s Pensions Expert on the vital role of pension funds in addressing the transition.