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  • 1.  DWP Taskforce Consultation on Social Factors in Pension Investment

    Posted 08-12-2023 13:51
      |   view attached

    Hi All,

    I wanted to thank everyone who contributed to our response letter to the TSF following my post a month ago.

    I attach our response which was prepared by our Pensions Expert Panel under the leadership of David Rae taking into account most comments received.  We made 17 recommendations, identifying 8 gaps, 6 points of challenge and three presentational suggestions.

    It will be interesting to see how many of these recommendations end up being acted on by the TSF!

    If you have any questions, please get in touch!

    Best Wishes,

    Andy



    ------------------------------
    Andrew Burton, CFA
    Professionalism Adviser
    CFA UK
    07415 952432
    ------------------------------

    Attachment(s)

    pdf
    Response to TSF 1 December, 2023 FINAL.pdf   253 KB 1 version


  • 2.  RE: DWP Taskforce Consultation on Social Factors in Pension Investment

    Posted 10-12-2023 13:15
    Andy great job by all involved.  I am not sure my comments incorporating learnings from TNFD etc were anything other than obvious.  But nicely integrated and that there is already a TISFD project underway. 

    See below some thoughts, comments welcome, on why Pension Funds might think differently from other asset owners when approaching Social and localised  impacts. Cut and pasted from something else I wrote. 


    Pension fund interests in caring about social and human capital should perhaps consider different qualitative aspects of social impact.  


    As in many ESG factors there are:

    1)  Quantifiable financial returns direct to short term p&L. 

    2)  There are intangibles that have observable intangible value and impact on relative valuation multiples.  

    3) There are then impacts which are best considered as creating or destroying Social & Human capital.  There is a moral and reputational value to doing no harm globally.  But locally there is a material value to pension beneficiaries to generating public goods that are predominantly geolocated within the geo footprint of the beneficiaries as a group.   This might be considered a significant non financial benefit for the scheme beneficiaries. So fall in scope as a fiduciary duty to give weight to. 


    .

    Sent from my iPhone



    Original Message


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