The proactive role of the Church Commissioners in relation to their investment portfolio has been highlighted in a number of recent posts, here, here, here, and here. On 1 May, the Asset Owners Disclosure Project (AODP) issued its 2016 Report on the world top 500 investors together managing a total of $38 trillion assets [Note: although only 23 pages in length, this report is very slow to load]. It states:
“Climate change is rapidly moving up the agenda for the world’s biggest investors as pension funds and insurers recognise the need for action to protect the savings and financial security of hundreds of millions of people”.
The independent non-profit AODP rates the world’s 500 biggest investors – pension funds, insurers, sovereign wealth funds, foundations and endowments with $38 trillion of assets under management (AUM) – on their success at managing climate risk within their portfolios, based on direct disclosures and publicly available information. They are graded from AAA to D while those taking no action are rated X. This year there were 10 new entrants to the Leaders group. AOPD states:
“[t]he Church Commissioners for England have gone straight to the top, gaining an AAA rating for their awareness and action on climate risk. They are very active on the engagement front, driving many of the shareholder resolutions being presented to boards”.
The Church Commissioners is ranked joint 10th with Etablissement de retraite additionnelle de la Fonction Publique (ERAFP). The Church of England Pensions Board (CEPB) Pension fund is A-rated and ranked in 29th position.