Tag Archives: ESG

People’s put the boot into “tea and cake” ESG.

Posted on April 30, 2024 by henry tapper

For those of us who thought People’s Pension (now Partnership)  had no ambition with its £22bn of assets, there is this. The commentary I have read so far suggests that People’s Pension is gunning for State Street – which manages … Continue reading →

Posted in pensions | Tagged , , , | Leave a comment

Surplus to requirements? BP’s $700m tax windfall

Posted on February 11, 2024 by henry tapper

  The FT has broken tbe story that $700m of the $3bn profits declared for the last three months of 2023 were attributable to a pension tax windfall. The $700m relates to 10% of the $7.9bn  surplus in its DB … Continue reading →

Posted in pensions | Tagged , , , , | 7 Comments

LCP lays down a marker for the future

Posted on November 9, 2023 by henry tapper

  LCP has published an open letter to Pensions Minister encouraging her to use the Mansion House reforms to ease inter-generational issues over the future of the planet by getting pensions invested for a purpose. The timing is not great, … Continue reading →

Posted in pensions | Tagged , , , , | 1 Comment

A good IGC report from Standard Life – but spare us the “calls to action”!

Posted on October 9, 2023 by henry tapper

As you might expect, Standard Life’s IGC report paints a very rosy picture of the value Standard Life savers are getting for their money (the pointer heads right not left). What you mightn’t expect are the calls to action to … Continue reading →

Posted in pensions | Tagged , , , , | Leave a comment

BP’s rotten core put self-interest above pensioner promises.

Posted on October 2, 2023 by henry tapper

In an open letter to BP Board Chair Helge Lund, BP interim CEO Murray Auchincloss and BP Pension Trustees Chair Brendan Nelson.  Alex Kent – a BP pensioner writes A dispute has arisen between BP and defined benefit BP pensioners. The previous bp … Continue reading →

Posted in pensions | Tagged , , , , | 4 Comments

Time for Corporate Sponsors to Embrace DB Schemes as ESG Flagships

Posted on October 2, 2023 by henry tapper

This post is by William McGrath, formerly CEO of Aga-Rangemaster, now heading C-Suite.  He is one of a breed of entrepreneurial leaders who see pensions as a force for good , rather than a millstone around the finance director’s neck. … Continue reading →

Posted in pensions | Tagged , | 3 Comments

Sunak’s cynical vote-grab at odds with the purpose of pensions.

Posted on September 21, 2023 by henry tapper

Politicians come and go, but pension funds precede and succeed them.  The money in them matters, not just to politicians but to the people who benefit from them and the planet they will retire on. Yesterday, the British Prime Minister … Continue reading →

Posted in pensions | Tagged , , , , , | Leave a comment

Derna – a man-made or natural disaster?

Posted on September 17, 2023 by henry tapper

For the people of north east Libya and particularly the town of Derna, discussions over whether their devastation was caused by climate change are of little interest, they are burying their dead. But the debate is live and as people … Continue reading →

Posted in pensions | Tagged , , | 1 Comment

When ESG doesn’t work

Posted on September 12, 2023 by henry tapper

Robert Armstrong’s email this morning is a cautionary tale to those who think that having an ESG strategy is enough. Clearly some ESG strategies are more successful than others. In the hope that Glencore feels some pain from people’s reading … Continue reading →

Posted in pensions | Tagged , , , | Leave a comment

Pension ESG, a new battleground for US culture wars.

Posted on August 29, 2023 by henry tapper

Can you sue your pension fund for investing with due consideration to ESG principles? That’s the question being argued in the courts between a group of members of the New York City defined benefit pension fund and their pension scheme. … Continue reading →

Posted in pensions | Tagged , , , , , | 1 Comment