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Page 2 - Investor think-tank calls for OECD to guide pension funds on sustainable investing
The group also suggested that serious long-term issues including climate change and the risk of pension under-funding, notably for future generations, were issues that needed to be moved up the pension fund agenda.
Keith Johnson, programme director for the International Corporate Governance Initiative at the University of Wisconsin Law School, and the group’s spokesman, said: “Pension fund decisions now not only affect the best interest of fund participants, but most of our planet’s population.”
He said the seriousness of the systemic issues was linked to the fact that institutional investors had become “market-controlling aggregations of capital”.
Amongst its recommendations, the NSFM said pension funds needed clarification of their fiduciary duty in regard to the debate over short and long-term investment goals. It also recommended that pension funds be required to make clear statements about their investment beliefs and how these would meet long-term liabilities, as well as report on potential conflicts of interest in the market.
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