This Chatham House peer-to-peer discussion was for asset owners such as pension funds and those involved in the governance of assets.
Delegates had the opportunity to share experiences and to hear from HSBC Bank Pension Trust who have already embarked on their climate action journey for the UK pension fund. There was also discussion of some of the challenges of producing a TCFD report and delegates heard from HSBC on how they overcame these. Delegates also learnt about the process that HSBC went through before announcing their net zero commitment and how they plan to achieve that, including their interim targets.
Edwin Whitehead, from Redington, had a fireside chat with Brian Kilpatrick, from HSBC Bank Pension Trust (UK) Limited, to discuss his journey towards net zero for the pension fund.
The event finished with a Q&A session.
To promote discussion and understanding of the challenges of implementing climate action strategies for pension funds and how to address these.
Delegates saw examples of best practice and learnt from the shared experiences in an asset-owner only discussion of both local authority and private sector pension schemes. This enabled informed decision-making on climate action within a pension fund portfolio.
Who was this event 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. Please note that it was an asset-owner only event, it was not suitable for asset managers or consultants, other than the forum sponsor, Redington.
Edwin leads the client delivery of Sustainable Investment advice at Redington. He and the 7-strong SI team are responsible for ensuring Redington’s largest clients clients are adequately, and proportionally integrating environmental, social and governance considerations into their investment decision making, and advises over £50bn of assets in guiding them to achieve a net zero investment goal.
Edwin also leads the Asset Owner workstream of the Investment Consultants Sustainability Working Group, sits on the Net Zero Investment Consultant Initiative, and represents Redington on the Local Government Scheme Advisory Board's Responsible Investment Advisory Group. Edwin is CFA Charter and Investment Management certified, and was also on the pilot programme for the CFA UK's Certificate in ESG Investing, and Certificate in Climate and Investing.
Brian Kilpatrick, Chief Investment Officer, HSBC Bank Pension Trust (UK) Limited
Brian has worked at the HSBC Bank Pension Trust (UK) Ltd as Chief Investment Officer since June 2020, with the DB and DC asset values of the Scheme being c.£30bn and c.£6.7bn respectfully.
Prior to joining HSBC, Brian worked at The Law Debenture Pension Trust Corporation plc. from July 2018 to June 2020 in the role of professional pension fund Trustee Director. He also worked at Santander Bank (UK) where he was Director of Pensions and also a Trustee of the Scheme’s Common Investment Fund.
Previous to that role he worked at Santander Asset Management (SAM) for c.2 years as Head of Investment Strategy in an institutional investment team advising institutional clients on investment strategy and asset manager selection.
Before Santander he worked at the Marks and Spencer Pension Scheme for approximately 10 years as Head of Investments and latterly also as Head of Marks and Spencer Pension Trust.
Prior to the Marks and Spencer Pension Scheme role Brian was an indexed equity and ETF fund manager at Barclays Global investors (BGI) for c.5 years
Brian is a Chartered Accountant and a CFA Charterholder. He has worked in the pension industry for over 20 years since joining Lincolnshire County Council’s Pension, Treasury and Technical Department where he worked in fund management and asset allocation.
The Paris Alignment Forum
The Paris Alignment Forum was established by Pensions for Purpose to help pension funds and other asset owners on their journey towards alignment with the goals of the Paris Agreement. We do this by sharing climate-related thought leadership written by our Influencer members (asset managers, consultants and lawyers), by running free training workshops for trustees and by engaging in industry-wide conversation through our quarterly all-stakeholder and asset-owner events. To find out more please click here.
Pensions for Purpose
Pensions for Purpose exists as a bridge between asset managers, pension funds and their professional advisers, to encourage the flow of capital towards impact investment. Our aim is to empower pension funds to seek positive impact opportunities and mitigate negative impact risks. For more information please email Charlotte O'Leary.
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