In May this year, UK pensions pool Brunel Pensions Partnership produced one of the first RI reports to explicitly align with the country’s latest Stewardship Code.
With Brunel having formed in July 2017, bringing together around £30bn (€33.2bn) from 10 “likeminded” pension funds – including sustainable investment leader the Environment Agency Pension Fund – eyes have been on Brunel to see what pooling means for environmental and social issues.
When the Financial Reporting Council (FRC) introduced what Responsible Investor then described as a “de facto ESG Code” in late 2019, Brunel’s Chief RI Officer Faith Ward saw the chance to align with emerging best practice on ESG. “We're still quite young as an organisation and this is our first responsible investment report,” she says. “We’re a year ahead of the deadline for that because we wanted to learn from it.”
According to the code’s most recent iteration, all signatories must produce an outc…