Pension Insurers 'Falling Behind On Climate Stewardship'

By Martin Croucher (January 14, 2022, 12:34 PM GMT) -- Most pension insurers have yet to sign up to a code that requires them to take a more assertive line on investments that cause environmental harm, a consultancy said, warning that the British sector was "behind the curve" on climate stewardship.

Lane Clark & Peacock LLP said on Thursday that just two of the eight insurers that provide bulk annuity cover to pension schemes have signed up to the Financial Reporting Council's Stewardship Code, which is voluntary. Asset managers and pension funds are asked to disclose their shareholders' voting records on environmental, social and governance factors.

LCP said that most insurers were failing...

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