News in brief - 13 August 2021

Hymans Robertson has announced that it will be joining the impact investing community, Pensions for Purpose.

The membership is part of the firm’s commitment to responsible investment as it aims to help clients manage the challenges and opportunities relating to environmental, social and governance (ESG) requirements. Last month, the consultancy launched a new action group, the Climate Impact Initiative, with the aim of encouraging pension providers to offer climate friendly investment options, which was supported by Pensions for Purpose. As part of its 100-year anniversary, the firm has also made a climate pledge and is working to halve its carbon footprint and offset its historic carbon emissions by 2025.

The 300 Club has proposed a new government-backed security to help raise money to address climate change at an affordable rate.

The group of investment professionals said that this would be achieved by the private sector issuing bonds that have a government guarantee, ensuring pricing continues to be closely linked to the gilt curve. It also has the aim of avoiding the government adding more debt to its balance sheet. Through a public/private partnership, the government would establish the governance and pricing structure, with the private sector building and operating the assets. The security would have 25 years of annual payments and no final return of principal.

Royal London is introducing ‘tilts’ to its £23bn passive equity funds - including its flagship ‘Governed Range’.
 
As a result, the carbon intensity of the equity investment in the Governed Range is expected to reduce by more than 10 per cent. Royal London said this would strengthen its approach to responsible investment and is part of its commitment to protecting standards of living. The ‘tilted’ equity funds will increase holdings of companies with good environmental, social and governance (ESG) practices and reduce holdings in companies with poorer practices.

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