Prince of Wales: Ditch pension 'short-termism' or 'risk miserable future'

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The Prince of Wales has called on the pensions industry to ditch its "short-term outlook" or risk condemning the country to a "miserable future".

In a video message to delegates, the Prince said a combination of pollution, overconsumption of natural resources, "unprecedented levels" of debt and a rising population has created a "perfect storm" that institutional investors must tackle. He said: "As the largest class of institutional investor and as a sector that is defined by your long-term liabilities, you have a need, and arguably a duty, to ensure that these emerging environmental, social and economic risks are identified and managed. "With an ageing population, and pension fund liabilities that are therefore stretching out f...

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