£30bn pension fund: we'll sack asset managers that ignore climate crisis.

A £30bn British pension fund has threatened to sack investment managers that do not take action on the climate crisis, criticising the sector as “not fit for purpose”.

Protesters including Greta Thunberg at the World
 Economic Forum meeting in Davos on Friday.

Brunel Pension Partnership, which manages pension money for nine councils in south-west England as well as for the Environment Agency, said it would review the mandates of asset managers that don’t reduce exposure to climate risk by 2022.

The Bristol-based pension fund will demand that companies in which it invests take steps to align their emissions with targets agreed at the 2015 Paris climate summit. Brunel will vote against the reappointment of board members of companies that who are not doing enough, and could also sell its stakes from 2022 onwards.

Read the story from The Guardian by Jasper Jolly - “£30bn pension fund: we'll sack asset managers that ignore climate crisis.”