UK pension funds call for climate risk transparency
PLSA head says institutional investors will put more pressure on oil and gas companies to improve their practices
UK pension funds are urging oil and gas companies to engage with the rising ESG awareness among savers, with climate concerns putting the industry firmly in their crosshairs. A survey of more than 2,000 UK adults by the Pensions and Lifetime Savings Association (PLSA), a trade body representing pension schemes, found global warming is an important issue for 80pc of respondents, with 50pc saying it is “very” or “extremely” important. As awareness of ESG issues has risen in recent years, there has been a growing trend by pension schemes to push investee companies to adopt greener policies in preparation for a lower-carbon future, or to divest from companies involved in the extraction of foss
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