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Asset manager ESG evaluation launched

written by Bella Palmer
asset-manager

The Pensions and Lifetime Savings Association is collaborating with a digital platform launched by TISA on the initiative as part of its ‘Investing for Good’ programme

More than 1,700 asset managers globally have been sent a request for information about environmental, social and governance (ESG) issues facing investors and their ESG-centric investing strategies, according to the UK industry bodies behind the move.

TISAtech, a new digital platform launched by The Investing and Saving Alliance (TISA), sent the request for information to the asset managers. The Pensions and Lifetime Savings Association (PLSA) is collaborating with TISAtech on the initiative as part of its ‘Investing for Good’ programme.

The deadline for response is 22 October. IPE was told that 25 asset managers registered to respond within the first hour of the request for information being posted via investRFP.com.

The latter said a primary objective of the request was to support UK pension schemes’ active management of their exposure to climate change (risk), in line with Taskforce on Climate-related Financial Disclosures recommendations.

The aggregate data will be used to present those asset managers that demonstrate a commitment to ESG-focused competencies and capabilities to UK pension trustees and asset owners, highlighting expertise and innovation in the investment process, it said.

A report is also to be published to all key industry policymakers and stakeholders “as a mechanism to drive change and greater engagement across the industry”.

UK pension schemes and their trustees are to be granted access to the asset manager responses at no cost.

Joe Dabrowski, head of DB, LGPS and standards at the PLSA, said pension schemes were “keenly aware” of the impact of climate change on their investments and on saver outcomes but needed the services and support of asset managers to investor accordingly and adapt to a fast-changing regulatory environment.

The result of this work has the potential to create unprecedented transparency in the industry, he said. I know pension funds and key industry policymakers will be interested to see the report of findings.

Keith Phillips, CEO of TISAtech, said: This evaluation, which we hope will become an annual exercise, will support the pensions and wider financial services industry to navigate new risks and will ensure transparency. It will soon become very clear who is adapting and performing well and who is not.

TISAtech describes itself as “a digital marketplace that brings together financial institutions and fintechs for greater collaboration and innovation. Currently, ESG technologies are highly fragmented, so TISAtech provides a place for these technologies to convene.”

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