This Q4 asset owner event was a Chatham House peer-to-peer discussion for asset owners such as pension funds and those involved in the governance of assets.

The costs of investing in a climate aware manner are disproportionately felt by asset owners – be that through higher fund fees paid to investment managers or paying consultants to access basic portfolio level carbon data. That’s before you consider regulated TCFD reporting and increasing disclosures to pensions scheme members. If climate change is 'a code red for humanity' and a financially material risk for Trustees, shouldn’t the costs be spread more fairly through the financial chain?

Jessie Wilson, from Dalriada Trustees, discussed increased costs and other practical hurdles, and solutions, facing trustees when attempting to invest in a climate aware manner.

This was followed by roundtable discussion with an opportunity for delegates to share experiences and challenges that they face.

Objective: to promote discussion and understanding of the hidden costs of climate action strategies for pension funds.

Outcome: delegates were able to take examples of solutions back to their trustee boards for consideration in their own funds.

Suitable for: anyone involved in the governance of assets and pension funds such as Trustees of corporate defined benefit plans, Trustees of corporate defined contribution plans; master trusts; LGPS pensions managers and committee members, and in-house pension teams.  This was an asset-owner only event and not open to asset managers or consultants.

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