Pensions minister writes to 50 pension schemes demanding action on ESG

The MP for Hexham warned pension and investment managers they must do their bit to combat climate change risks and clearly set out their ESG and climate change policies. His letter noted that the 50 schemes - which between them represent half of all UK pension assets - must take account of financially material considerations arising from ESG considerations, must have a policy on stewardship of assets, and stated they must have a policy on how members' views are taken into account. Schemes were also told that circumstances where neither climate nor ESG risks are financially material we...