$2 4tn investor group pressures HSBC to dump fossil fuels citywireselector.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireselector.com Daily Mail and Mail on Sunday newspapers.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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HSBC climate credentials in firing line as asset managers file shareholder resolution
Investors call for decarbonisation plans
The bank has been urged to set a clear timetable for emission reductions
HSBC is facing a shareholder resolution filed in co-ordination with 117 shareholders, including Man Group, Sarasin & Partners and Amundi, targeting the bank s substantial exposure to fossil fuel assets and its compliance with the Paris Climate goals.
The investors, which together represent $2.4trn in AUM, are calling on HSBC to publish a strategy and targets to reduce its exposure to fossil fuel assets, starting with coal, on a timeline consistent.
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