FairPensions, the campaign for Responsible Investment, today warned that most UK pension funds have failed to keep up with changes affecting their duty towards their members’ ethical interests. The warning comes as FairPensions launches a best practice guide for pension fund trustees, outlining why Responsible Investment has become a fiduciary duty.
The guide presents a strong legal, financial and PR case for funds to review their Responsible Investment practices, and condenses a variety of sources from legal and industry bodies and the Myners Principles into an easily digestible document. The guide also sets out the basic steps necessary to ensure compliance with best practice on Responsible Investment.
FairPensions urges UK pension funds – worth £725 billion - not to disinvest, but to use their shareholder power to engage with the companies they own to improve their social, environmental and ethical behaviour.
In addition to providing information for pension fund trustees, FairPensions is beginning a major public campaign to educate fund members and to act as an advocate for those who wish to see their own fund adopt Responsible Investment best practice.
See full Press Release.
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