Four pledges for one planet: The mallowstreet Climate Charter

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The Transition Pathway Initiative (TPI) report assessed 274 of the world’s highest-emitting publicly listed companies finding that 46% of them are not aligned to meeting the Paris Accord. Only 20 of those firms are on course to beat the 2 degree target, but who can put the pressure on them to change with the times?

It is very difficult in these times of market uncertainty, trade wars and Brexit fatigue to find yield, let alone maintain member satisfaction. It is understandable that looking at individual stock allocation may be at the bottom of the to-do list when considering which funds and investments to make during the due diligence process. It has, however, never been more important to do just that.

Major corporations will operate within the rules that nations set, but internationally, they might look for the cost-efficient solution over green to satisfy shareholders. 

Utilising the power of capital, pension funds can have incredible sway over organisations if they use their influence to ask for more than just returns. Whether that is in exerting pressure directly on companies your fund invests in or on the asset managers and investment firms who look after parts of your portfolio, it is within the power of the trustee to make a real impact.

That is why we have been hugely excited by the trustees who helped forge the mallowstreet Climate Charter and those who have signed in their own personal capacity. The Climate Charter calls for trustees: 

  1. To ask, ’What is the impact on the climate?’ for each and every investment that is proposed;
  2. to demand that the carbon impact of every investment is measured and reported on by asset managers and work actively and collaboratively to develop complete carbon measurement standards;
  3. to insist that each investment manager actively engages with corporate boards underlying the investments, so that every company develops and discloses both a complete measure of their carbon impact and a clear business plan to transition to a low carbon future; and
  4. to review, and ultimately recommend the termination of, any investment manager that fails to support and actively engage in stewarding the transition to a low carbon future.

Click here to sign the charter and join our growing list of trustees who are helping to make a difference to future generations.

A big thank you to those who have signed already and for the support you have shown the Charter so far. Please comment and share why you have signed the charter!

1.
Peter Elwin
 
JP Morgan Cazenove 1987 Pension Scheme
Member-nominated Trustee Director

2.
Paul Trickett
 
Santander UK Group Pension Scheme; Coal Pension Trustees Pension Scheme; Railways Pension Scheme
Chairman of Trustees; Trustee

3.
Mark Tennant
 
Centrica plc Centrica Pension Scheme
Chairman of Trustees

4.
Nigel Stapleton
 
National Grid plc National Grid UK Pension Scheme DB
Chairman of Trustees

5.
David Adkins
 
Lloyds Bank Pension Schemes No 1 & No 2; HBOS Final Salary Scheme

6.
Ross Reason
 
Stanhope Pension Fund

7.
Karen Jones
 
AVIVA Staff Pension Scheme; Mineworkers' Pension Scheme
Pensions Secretary

8. Jonathan Glen
LGPS - Hampshire County Council Pension Fund
Trustee

9.
Rosie Lacey
 
FundDe La Rue plc Pension Scheme
Pensions Manager

10.
Andrew Barker
 
The Telent Pension Office G.E.C. 1972 Plan
Trustee

11.
Meredith Gibson
 
Citi UK Pension Scheme; Clifford Chance Pension Scheme
Trustee

12.
Michael Clark
 
Cincinnati Machine Pension Plan
Trustee

13.
Mike Ward
 
FPPS (Friends' Provident now owned by Aviva)
Chair, Trustee Board and Member of Investment Committee

14.
Nic Jones
 
Independent Consultant and Trustee

15.
Mark Austin
 
Northern Trust Pension Plan
Chair

16.
Terry Webster
 
Independent Consultant and Professional Trustee

17. Christopher Lawrence
University of East Anglia Staff Superannuation Scheme
Chair

18. Niraj Patwa

19.
Michael Woodmore
 
Agility Pension Plan
Independent trustee

20.
John Chilman
 
Railways Pension Scheme Nestlé UK Pension Fund
Chief Executive - RPMI Independent Trustee - Nestlé UK Pension Fund

21.
John Jones
 
Pension Board Chair

22.
Alexandra Loydon
 
St. James's Place Wealth Management
Divisional Director

23.
Clarisse Simonek
 
Local Pension Partnership
Investment Strategy

24. Lois Tullo
Richview Residence Reserve Fund
Vice Chair

25.
Tony Earnshaw
 
Various
Independent trustee/chair of trustees

26. Jamie Goodfellow
National Grid
Governance Manager

27. Alan Rankin
National Grid UK Pension Scheme
Trustee, Chair of Governance Committee

28.
David Gamble
Formerly IBM JOHN LEWIS BBC AND BA
TRUSTEE AND INVESTMENT COMMITTEE

29.
Sally Bridgeland
 
Lloyds Bank Pension Schemes 1 & 2, HBOS, Local Pensions Partnership
Trustee

30.
Jonathan Hughes
 
National Grid
Risk Advisor

31.
Nick Spencer
 
Investment Committee Member ESG Investment Advisor
 
32.
Karen Shackleton
 
Advising four LGPS funds
Independent investment adviser
 
33.
Rachel Neill
Smart Pension
Investment Manager

34.
Duncan Willsher
 
Independent Professional Trustee at 20-20 Trustees

36. Ian McKinlay
Lloyds Banking Group staff pension schemes
Chief Investment Officer

37.
Dinesh Visavadia

Several
Trustee and Chair

38.
Kevin Clark

Various
Independent Trustee

39.
Nicholas Wheeler

Volvo Group UK Retirement Plan & various
Chairman of Trustees

40.
Robert Gardner

St. James's Place Wealth Management
Director of Investments

41.
Rob Schreur

National Grid UK Pension Scheme
Chief Investment Officer