Pension professionals call for laws or clearer guidance to boost real-world ESG impact in the UK
At a recent event hosted by the UK’s Society of Pension Professionals (SPP), more than 100 pension professionals reached a consensus on prioritizing “more focused manager engagement” over imposing additional Environmental, Social, and Governance (ESG) disclosure requirements.
When asked about the future actions needed to make a real impact on ESG issues, 47 percent of participants advocated for improved engagement from investment managers, while none supported further disclosure requirements.
Additionally, 35 percent of respondents favoured ‘a change in the law,’ and 16 percent sought “’clearer guidance on best practice.’
Craig Campbell, SPP member and UK Head of Responsible Investment at Aon, chaired the session, remarking on the strong support for enhancing manager engagement in achieving real-world ESG impacts.
Campbell observed, “It was good to see that pension professionals are so supportive of improving manager engagement to deliver real-world ESG impacts. Given the substantial increase in ESG disclosure requirements in recent years, it is perhaps not surprising that there was no support for additional disclosure requirements to be imposed.”
Campbell added that pension professionals remain committed to ESG principles and are determined to continue advancing these goals.
“What is clear is that pension professionals remain very much committed to ESG principles and outcomes. We have achieved a great deal but there remains much more to do,” he said.
Held on 22 October, the event featured notable industry speakers, including Stuart O’Brien, partner at Sacker & Partners LLP; Brendan Walshe, principal investment consultant at The Pensions Regulator; Natalie Winterfrost, director at Law Debenture Pension Trustees; Timothée Jaulin, head of ESG Business Development & Advocacy at Amundi; and Craig Campbell, who chaired the event.
The SPP, a representative body for UK pension advisers and service providers, encompasses professionals such as actuaries, accountants, investment managers, and administrators.
Through its 85 corporate members, employing over 15,000 professionals, the SPP leverages their collective expertise to promote positive impacts for savers, the pensions industry, and its stakeholders.
