Phoenix Group’s Post

The action we take on climate change can have a real impact. We’re taking steps to decarbonise our portfolio and move towards a net zero economy by 2050. > https://lnkd.in/eiSuFshX #Pensions #NetZero #ClimateChange #Investment

"Imagine what could be possible by awakening the tremendous, untapped power in how pensions invest... We see economic opportunities in tackling the climate crisis, investments that protect workers' retirement future and safer workplaces, real accountability for harmful companies, and a more just economy that serves the people and the planet." Read "The Intertwined Fate of the Economy, Equity, and the Climate Crisis" on the CFA Blog at https://lnkd.in/dK78PqmE. #ClimateCrisis #ClimateAction #ClimateChange

Pensions have the money with the mission, the duty and the scale to answer the call from COP28 “for transitioning away from fossil fuels in a just , orderly and equitable manner by coming together in a global consortium to: One. Buy hydrocarbon companies out of public markets ownership, Private Equity-style. Two. Place them into prudent stewardship through negotiated agreement on equity paybacks to a fiduciary cost of money from enterprise cash flows prioritized for suitability, longevity and fairness, Real Estate Equity-style. Three. Require them to become, and support them in being, positive contributors to a global initiative to rapidly redesign and reconstruct our global energy supply ecosystem to be purpose-built for energy sufficiency complete with habitat longevity and social equity, NASA-style.

"Ask ourselves: 'Who has a voice in setting standards for the kind of economy we operate within and for accountability for how corporations' behaviors harm people and our planet?'" The climate crisis was perpetuated by a system of extractive, unaccountable, and inequitable economic systems that are built on and feed off systemic racism and economic inequality. Let's challenge the status quo and create more equitable finance and policy-making systems as part of the climate finance fight.

It has been a while since October 1st, 2021, and I recently reviewed Barnett Waddingham's insights on TCFD reporting for DC Master Trusts. The report highlights best practices in member engagement, clear communication, and tracking progress on climate goals. It's interesting to see how different schemes tackled the requirements and how uneven the reporting landscape still is. This is a valuable resource for anyone involved in pension management or sustainability reporting. Available here: https://lnkd.in/eAb8yMjS #sustainability #TCFD #pensions #climatechange #investment #reporting

Addressing climate change requires urgent action from asset owners, advisers and managers. This write-up of our Pensions for Purpose all-member event explores the challenges and solutions: from advancing climate-transition plans to integrating climate considerations into investments and fostering collaboration to accelerate global decarbonisation. #NetZero #ClimateFinance #PensionsforPurpose https://ow.ly/ekmt50U8XeG

This powerful award-winning campaign by Make My Money Matter (MMMM), featuring 'Oblivia Coalmine', is certainly something to reflect on. It sums up the dangers of unconscious investments, specifically looking at pensions. Pension funds invest billions in oil and gas companies, which in turn means that this money is helping to fuel the climate crisis. There’s £3 trillion in UK pensions – and this is our money - right now that is invested in companies driving deforestation and funding fossil fuels. We can change this. MMMM share that greening our pensions cuts our carbon footprint 21x more than going veggie, giving up flying or switching energy providers. We all have a role to play, let's create a world where everyone can be proud of their money. #Pensions #ClimateChange #Money

An exploration of new climate-era words like carncinormalism and pensionarchy that, I hope, make the case for a fiduciary reset among global pension funds that have the mission, duty and scale to lead on climate -- but don't. A formal discussion paper is in the link to the post. Let's discuss: https://lnkd.in/gPYUy3hY #fiduciaryduty #pensions #economy #climate #pensionarchy #pensionocracy #carcinormalism #globalism #antiglobalism #financialization #trillions

📢 📢 NEW BLOG POST 📢 📢 Pension funds and effective stewardship in the context of the climate crisis Authors: Yuval Millo & Katharina Dittrich Effective stewardship has been heralded as one of the key levers financial institutions have at their disposal to address the climate crisis. How realistic is our assumed model of stewardship in finance? We discussed this question with our colleague, Professor Yuval Millo, at the University of Warwick - Warwick Business School. Yuval and his co-authors, Juliane Reinecke and Susan Cooper, interviewed pension trustees, their advisors and others in the pensions field about stewardship in the context of the climate crisis. Their research found that we might have a paradigmatic misalignment between our current model of stewardship, assumed especially in regulatory frameworks, and the reality of investment practices and dynamics. Their research calls not only to rethink regulatory considerations based on the current model of stewardship, but also to potentially develop a different mode of bottom-up coalition-building that goes beyond initiatives such as Climate Action 100+. https://lnkd.in/dNHxZvnC #climatefinance #climatecrisis #climatechange #pensions #pensionfunds #stewardship #ClimateAction100+ #CA100+ #research #DWP #TCFD #regulatedfunds #funds #investment #ESG #policy #policymakers #NGO

Over the years our research team on climate finance had several conversations with Yuval Millo about our joint research interests and it's great to finally be able to share some of these discussions via our blog. Engagement takes a central role in climate finance and in our latest blogpost (see below) we discuss with Yuval the limits of effective stewardship in the context of pension funds. One of the things I found most interesting in the discussions with Yuval is the idea that finance is not a chain of investments, but rather a complex network and so trying to effect change from one end of the network to the other is not easy. Thanks Yuval Millo for the chat! https://lnkd.in/dc6SUGzu #climatechange #climatecrisis #climatefinance #pensionfunds #stewardship #ESG #engagement