PLSA invites industry to series of climate risk roundtables

PLSA calls on pensions schemes and investors from the wider financial services industry to discuss climate risk

The Pensions and Lifetime Savings Association (PLSA) is calling on pensions schemes and investors from the wider financial services industry to participate in a series of online roundtables on climate risk.

Led by PLSA chair Richard Butcher (pictured), the organisation asking asset managers, asset owners, stakeholders and the public to participate in discussions on practical ways the retirement savings sector can address climate risk.

The online roundtables will start on 12 June and invite all interested parties to submit evidence on the following questions:

  • How are pension funds currently incorporating climate considerations into their investment approaches?
  • What are the biggest practical challenges to effective consideration and implementation of climate-aware investment strategies?
  • To what extent will existing industry, policy or regulatory initiatives be effective in overcoming these challenges?
  • Are there any industry, policy or regulatory initiatives which would support you in consideration of climate risks and opportunities?

Butcher commented said: As stewards of trillions of pounds of people’s savings, pension schemes have a duty to ensure that members’ money is managed responsibly.

“The PLSA is rightly proud of its efforts to encourage the pension industry to prioritise climate risk to date. With the engagement this work has brought, and new climate regulations in force, I am excited to be getting the opportunity to discuss with scheme CEOs, CIOs, trustees and anybody else to turn enthusiasm into action and take the agenda further.”

Evidence and views can be submitted via the PLSA website until Friday 14 August.

See also: The impact of covid-19 on pension schemes’ adoption of ESG

This follows the launch of a working group to assist schemes in their stewardship reporting duties ahead of an October 2020 deadline and sits amid a wider PLSA initiative focused on investment and climate change

This year, the PLSA has issued new voting guidelines for investors to hold companies to account on climate change, while the topic was a prominent theme at the organisation’s March conference.

The PLSA represents over 1,300 pension schemes with 20 million members.

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Natalie Kenway

Natalie is global head of ESG insight for ESG Clarity and has been an investment journalist for 16 years. She won Editor of the Year at the Aviva Investors Sustainability Media Awards 2021, and was Winner...