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About this webinar:
From Attenborough to wildfires, climate awareness is more mainstream than ever, while the pandemic has seen the most urgent social and ethical issues dominate the headlines. The pensions industry is striving to meet the growing expectations of scheme members that their investments deliver a great return and reflect their values across the ESG spectrum.
How to tackle this? Divestment has become a cause célèbre. From a focus on climate change that has led over 11.1trn of global assets to be committed to a divestment from fossil fuels[1] the scope of the movement is widening to areas including defence. Yet, compelling voices call for change by engagement, rather than leaving the table. By leveraging their holdings in high-emitting companies, they argue, investors can push for positive change.
Few issues have sparked more intense debate in the UK pension fund community than whether schemes should engage or divest – but, as new campaigns emerge to champion the issues involved and increasing numbers of schemes pledge to move to a net zero position, it is fast becoming a topic governance bodies can no longer ignore.
This webinar brings together five expert panellists to discuss the issues involved:
- What is more effective, divestment or engagement?
- What are the pros and cons of each approach?
- Where should pension providers draw the line on exclusions?
- How do you use ESG to provide a stable long-term return for your customers?
- What are member expectations around what their pension scheme should and shouldn’t invest in?
- Should ESG be mainstreamed in savings or a choice for specialist savers?
[1] Source - Fossil Free: https://gofossilfree.org/divestment/commitments/
Jonathan is editor of Professional Pensions and has been reporting on UK occupational pensions since 2001. He has won a number of awards during his career, most recently the SPP Trade Journalist of the Year Award in 2019. He is also holder of the PMI's Retirement Provision Certificate.
David has worked in DWP since 2003, and in workplace pensions policy at DWP since 2014. In recent years, he has delivered regulations on the charge cap; cost, charge and investment disclosure; the introduction of tailored risk warnings in personal pensions with Guaranteed Annuity Rates; accelerating and removing barriers to DC consolidation; clarifying and strengthening trustees’ duties around ESG. He currently leads on DWP’s work to embed climate governance and TCFD into pension scheme decision making, through the Pension Schemes Bill and the Taking Action on Climate Risk consultation.
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Stephen Barrie
Deputy director of ethics and engagement at the Church of England Pensions Board
View BioDr Stephen Barrie is Deputy Director (Ethics and Engagement) in the investment team of the Church of England Pensions Board, where he works across the Board’s investment stewardship activities. He previously served as Secretary to the Ethical Investment Advisory Group, which advises the three Church of England Investing Bodies (combined AUM of approx. £12 billion) on ethical investment. He is a trustee director of the Church Investors Group. Before working for the Church of England he was a Fellow at the UK’s Parliamentary Office of Science and Technology, and a member of staff (now on the governing board) of the Anscombe Bioethics Centre, Oxford. His academic background is in Applied Moral Philosophy and Christian Ethics, and he holds a doctorate in philosophy from King’s College London on the topic of ethics, intentions, and side effects.
At Scottish Widows, Maria is responsible for defining the investment offering across our pension business, covering workplace savings, individual and longstanding customer segments, and for incorporating ESG into the investment design. She has previously held senior DC investment roles at Mercer and JLT. She is a spokesperson on investment matters, a regular contributor to pension industry events and a professional awards judge. She also volunteers on the PMI Policy and Public Affairs Board and the CFA UK Pensions Expert Panel.
Lauren started at ShareAction in 2016, working on a campaign to use the power of pensions to solve the climate crisis. Four years on Lauren now leads engagement with the UK pension industry, encouraging them to invest with the planet and society in mind. Prior to joining ShareAction Lauren worked in the ESG research team of the stock broker Kepler Cheuvreux. Lauren has also worked with the Plan A sustainability team at Marks & Spencer and the International Institute for Environment and Development.
Callum has more than twelve years' of pensions, actuarial and investment experience and is a Fellow of the Institute and Faculty of Actuaries. He joined Hymans Robertson in 2015 and leads the responsible investment research and development within the firm’s DC team. He is also a member of the firm-wide Responsible Investment and Climate Change working groups. As a member of the Governance Committee to Hymans Robertson’s own pension plan Callum was heavily involved in the recent developments to reduce the arrangement’s carbon footprint. Callum is responsible for some of Hyman’s Robertson’s largest Master Trust and single-employer trust clients and has recently been heavily involved in the development of the firm’s innovative 'member outcomes tracker'.
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