Four pledges for one planet: The mallowstreet Climate Charter

The Transition Pathway Initiative (TPI) report assessed 274 of the world’s highest-emitting publicly listed companies finding that 46% of them are not aligned to meeting the Paris Accord. Only 20 of those firms are on course to beat the 2 degree target, but who can put the pressure on them to change with the times?

It is very difficult in these times of market uncertainty, trade wars and Brexit fatigue to find yield, let alone maintain member satisfaction. It is understandable that looking at individual stock allocation may be at the bottom of the to-do list when considering which funds and investments to make during the due diligence process. It has, however, never been more important to do just that.

Major corporations will operate within the rules that nations set, but internationally, they might look for the cost-efficient solution over green to satisfy shareholders.

Utilising the power of capital, pension funds can have incredible sway over organisations if they use their influence to ask for more than just returns. Whether that is in exerting pressure directly on companies your fund invests in or on the asset managers and investment firms who look after parts of your portfolio, it is within the power of the trustee to make a real impact.

That is why we have been hugely excited by the trustees who helped forge the mallowstreet Climate Charter and those who have signed in their own personal capacity. The Climate Charter calls for trustees:

  1. To ask, ’What is the impact on the climate?’ for each and every investment that is proposed;
  2. to demand that the carbon impact of every investment is measured and reported on by asset managers and work actively and collaboratively to develop complete carbon measurement standards;
  3. to insist that each investment manager actively engages with corporate boards underlying the investments, so that every company develops and discloses both a complete measure of their carbon impact and a clear business plan to transition to a low carbon future; and
  4. to review, and ultimately recommend the termination of, any investment manager that fails to support and actively engage in stewarding the transition to a low carbon future.

Click here to sign the charter and join our growing list of trustees who are helping to make a difference to future generations.

A big thank you to those who have signed already and for the support you have shown the Charter so far.

  1. Peter Elwin
    JP Morgan Cazenove 1987 Pension Scheme Member-nominated Trustee Director

  2. Paul Trickett
    Santander UK Group Pension Scheme; Coal Pension Trustees Pension Scheme; Railways Pension Scheme
    Chairman of Trustees; Trustee

  3. Mark Tennant
    Centrica plc Centrica Pension Scheme
    Chairman of Trustees

  4. Nigel Stapleton
    National Grid plc National Grid UK Pension Scheme DB
    Chairman of Trustees

  5. David Adkins
    Lloyds Bank Pension Schemes No 1 & No 2; HBOS Final Salary Scheme

  6. Ross Reason
    Stanhope Pension Fund

  7. Karen Jones
    AVIVA Staff Pension Scheme; Mineworkers' Pension Scheme
    Pensions Secretary

  8. Jonathan Glen
    LGPS - Hampshire County Council Pension Fund
    Trustee

  9. Rosie Lacey
    FundDe La Rue plc Pension Scheme
    Pensions Manager

  10. Andrew Barker
    The Telent Pension Office G.E.C. 1972 Plan
    Trustee

  11. Meredith Gibson
    Citi UK Pension Scheme; Clifford Chance Pension Scheme
    Trustee

  12. Michael Clark
    Cincinnati Machine Pension Plan
    Trustee

  13. Mike Ward
    FPPS (Friends' Provident now owned by Aviva)
    Chair, Trustee Board and Member of Investment Committee

  14. Nic Jones
    Independent Consultant and Trustee

  15. Mark Austin
    Northern Trust Pension Plan
    Chair

  16. Terry Webster
    Independent Consultant and Professional Trustee

  17. Christopher Lawrence
    University of East Anglia Staff Superannuation Scheme
    Chair

  18. Niraj Patwa

  19. Michael Woodmore
    Agility Pension Plan
    Independent trustee

  20. John Chilman
    Railways Pension Scheme Nestlé UK Pension Fund
    Chief Executive - RPMI Independent Trustee - Nestlé UK Pension Fund

  21. John Jones
    Pension Board Chair

  22. Alexandra Loydon
    St. James's Place Wealth Management
    Divisional Director

  23. Clarisse Simonek
    Local Pension Partnership
    Investment Strategy

  24. Lois Tullo
    Richview Residence Reserve Fund
    Vice Chair

  25. Tony Earnshaw
    Various
    Independent trustee/chair of trustees

  26. Jamie Goodfellow
    National Grid
    Governance Manager

  27. Alan Rankin
    National Grid UK Pension Scheme
    Trustee, Chair of Governance Committee

  28. David Gamble
    Formerly IBM JOHN LEWIS BBC AND BA
    TRUSTEE AND INVESTMENT COMMITTEE

  29. Sally Bridgeland
    Lloyds Bank Pension Schemes 1 & 2, HBOS, Local Pensions Partnership
    Trustee

  30. Jonathan Hughes
    National Grid
    Risk Advisor

  31. Nick Spencer
    Investment Committee Member ESG Investment Advisor

  32. Karen Shackleton
    Advising four LGPS funds
    Independent investment adviser

  33. Rachel Neill
    Smart Pension
    Investment Manager

  34. Duncan Willsher
    Independent Professional Trustee at 20-20 Trustees.

We need action now. If you are a trustee and feel the same, click here to sign up to the Climate Charter or email your support to ClimateCharter@mallowstreet.com