£300bn of assets linked to deforestation, BBC sets net zero goal

More than £300bn of pension assets have high deforestation risk

More than £300bn of UK pension money is invested in companies and financial institutions with high deforestation risk, according to joint research by Make My Money Matter, Systemiq and Global Canopy. The study, which analysed equity and corporate bond allocations of UK pension schemes, found that 31 per cent of these investments are in high deforestation risk companies and financial institutions. According to MMMM, these investments directly contradict the values of savers across the UK, since the vast majority (77 per cent) of pension holders would be unhappy to discover that their savings were contributing to deforestation. With an estimated 30 football fields of forest lost every minute — and an area the size of London destroyed every week, according to the charity WWF — the campaign group is calling on pension schemes to listen to the views of their members by committing to deforestation-free portfolios.

BBC Pension Scheme commits to net zero by 2050

The £19bn BBC Pension Scheme has committed to achieving net zero greenhouse gas emissions within its investment portfolio by 2050. The pledge is based on the expectation that governments and policymakers will deliver on their commitments to achieve the 1.5C temperature goal of the Paris Agreement. The scheme does not currently plan to use carbon offsets at fund level to achieve the goal, it said. The scheme is also a signatory to the Paris Aligned Investment Initiative’s Net Zero Asset Owner Commitment and a member of the Institutional Investors Group on Climate Change. In addition, Catherine Claydon, chair of trustees of the BBC Pension Scheme, has signed the A4S Pension Fund Chair Net Zero Statement of Support.

This article originally appeared on MandateWire.com

Brunel appoints sustainable equity managers

The £38bn Brunel Pension Partnership, which handles assets of 10 Local Government Pension Scheme funds, has hired Jupiter Asset Management and Mirova as additional co-managers for its sustainable equities portfolio. This vehicle was launched in 2020 with £1.2bn in assets under management and has since grown in size to £2.5bn. Therefore, Brunel decided to appoint further managers to take on a proportion of the larger assets and support broader risk management. The portfolio, which focuses on listed equities, will retain the original purpose set by the pool’s clients, which is to place ESG considerations at the forefront of the investment process, such that managers positively pursue companies that will provide a benefit to society.

This article originally appeared on MandateWire.com