LCP is pleased to support an initiative by the AMNT and UKSIF which acknowledges the importance of environmental, social and governance issues to pension scheme investments.
Specifically, we have made the following statement:
"Lane Clark and Peacock LLP is happy to join with the Association of Member Nominated Trustees and the UK Sustainable Investment and Finance Association in recognising that the recent investment guidance from The Pensions Regulator marks a major development in TPR’s approach to how trust based DC and DB pension schemes need to address risks around long term sustainability, including environmental, social and governance issues.
"We agree that this change, reflected in the Regulator’s statement to trustees that “We expect you to assess the financial materiality of these factors and to allow for them accordingly in the development and implementation of your investment strategy” puts trustees and their advisers under an obligation to react.
"We believe that ESG is a fundamental part of success in long-term investing, therefore we are drawing the guidance to the attention of UK pension fund clients through a variety of routes such as putting consideration of ESG on trustee meeting agendas, issuing briefings and/or holding training sessions. We also recognise the significant role that client-facing consultants can play in ensuring that our clients are well informed on the issues."
LCP is one of twelve UK investment consultancies that support the initiative. See the press release from AMNT and UKSIF for further details.