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ESG Round-up: PLSA puts pension focus on carbon and climate reporting

The latest developments in sustainable finance:  UK pensions association issues voting guide; women in board positions; ESMA calls for evidence.

The UK pensions trade association the Pensions and Lifetime Savings Association is prioritising carbon and climate reporting in its annual voting guide for pension fund trustees. The guidelines, which were released yesterday, also remind pension schemes to be cautious when attributing corporate performance to management in cases where companies have benefitted from government incentives during the pandemic. It is the first year that the PLSA have included dedicated advice on climate change, executive remuneration and diversity.

Almost 40% of UK FTSE 100 board positions are now held by women, according to the FTSE Women Leaders Review published this week, putting the UK second internationally for board representation behind France. FTSE 100, 250 and 350 all improved the number of women in Leadership roles in 2021 and the report includes recommendations to build on this progress, including setting a voluntary target for FTSE 350 executive leadership teams to double its female representation to 40% by the end of 2025.

The European Securities and Markets Authority (ESMA) has published a call for evidence to get stakeholders views on – amongst other things – a proposed classification of climate risks relevant to Central Counterparties (CCPs). Comments must be provided by 21 April 2022.