Subscribe free to our newsletters via your
. 24/7 Space News .

World's pension funds ignoring climate risk: survey
by Staff Writers
Sydney (AFP) Dec 11, 2012

The world's biggest investors have their "heads in the sand" over climate risk, according to a survey released Tuesday which warned of risks to pension funds.

The Asset Owners Disclosure Project (AODP) looked at the world's 1,000 largest retirement funds, insurance companies and sovereign wealth pools on their management of the risks associated with rising global temperatures.

The survey showed that a "large proportion of funds have their heads in the sand over climate risk", said the project's executive director Julian Poulter.

"Climate change will be recognised soon as the real threat that it represents not only to nature as we know it on earth, but also to humanity. Funds have yet to recognise that a tipping point has been reached."

The AODP, an independent global organisation which aims to protect superannuation and pension fund members' retirement savings from climate change risks, surveyed companies together managing more than US$60 trillion.

It examined how firms from 63 countries around the world -- more than 800 of them pension funds but also 80 insurance companies and 50 sovereign wealth funds -- responded in areas such as risk management and low-carbon investment.

Only 17 firms responded directly to the survey but the project was able to rank 314 asset owners in total via their own two-year analysis, despite 91 of these releasing no public information on their climate change capability.

The survey found many funds did not have a climate change policy and many that did hadn't changed investment decisions as a result.

Poulter said he was not convinced that a single firm had accurately assessed or managed its climate risk over its entire portfolio of investments.

"The vast swathe of the industry is frankly operating on a business as usual basis," he said.

"You can't trade out profitably from these big systemic risks and there is none more big or systemic than climate change."

The survey found that Australia was the standout performer in the index, with disclosure disciplines more embedded than elsewhere.

South Africa's Government Employees Pension Fund (GEPF) also received a high rating because it had calculated its exposure to fossil fuel reserves via the balance sheets of its investee companies.

The index indicated that US firms tended to be much more active with raising shareholder resolutions, including those related to environmental, social and governance issues while European funds tended to rate well.


Related Links
Climate Science News - Modeling, Mitigation Adaptation

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Fractious Doha talks bode ill for 2020 deal, observers say
Doha (AFP) Dec 9, 2012
The fractious debate at UN climate talks in Doha points to a rocky road ahead to a new, global 2020 deal on saving the Earth from calamitous global warming, observers say. A consensus interim agreement that many say is low on substance, was passed after two weeks of intense haggling that deadlocked almost from day one and highlighted deep fault lines between rich and poor nations. "If we ... read more

To the moon and back for less than 2 billion dollars

NASA's GRAIL Creates Most Accurate Moon Gravity Map

Chinese astronauts may grow veg on Moon

WSU researchers use 3-D printer to make parts from moon rock

Charitum Montes: a cratered winter wonderland

Opportunity Continues Rock Studies

Orbiter Spies Where Rover's Cruise Stage Hit Mars

NASA to send new rover to Mars in 2020

What happens to plant growth when you remove gravity?

Scientists say NASA's budget inadequate for its goals

What trends will take upper hand in space exploration?

To reach final frontier, NASA can't go it alone: analysts

Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Tiangong 1 Parked And Waiting As Shenzhou 10 Mission Prep Continues

Medical Ops, Fan Checks for Space Crew; New Trio Checks Soyuz

Khrunichev Completes Nauka Space Station Module

New Crew of ISS to Perform Two Spacewalks

Space Station to reposition for science

SPACEX Awarded Two EELV Class Missions From The USAF

Russia Set to Launch Telecoms Satellite for Gazprom

Sea Launch Delivers the EUTELSAT 70B Spacecraft into Orbit

S. Korea readies new bid to join global space club

Astronomers discover and 'weigh' infant solar system

Search for Life Suggests Solar Systems More Habitable than Ours

Do missing Jupiters mean massive comet belts?

Brown Dwarfs May Grow Rocky Planets

Malaysia orders Australian miner to ship out waste

$99 Google laptops for schools sold out

Microsoft to sell Surface at retail stores

Google sells off more Motorola assets

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement