NILGOSC’s ESG activity from 2007 onwards
2024
NILGOSC endorsed the Principles for Responsible Investment’s (PRI) Spring Initiative, a new stewardship initiative designed for institutional investors to use their influence to halt and reverse global biodiversity loss by 2030.
NILGOSC co-signed a statement on Corporate Governance issued by the International Corporate Governance Network (ICGN) to UK authorities and relevant stakeholders. The letter makes the case for the UK maintaining robust investor protection and high corporate governance standards, opposing recent proposals for reforms which signatories consider detrimental.
2023
NILGOSC responded to the PRI’s formal global signatory consultation: PRI in a Changing World, which set out to explore key issues for the future of responsible investment, including: the PRI’s vision, mission and purpose; and the value they provide to signatories.
Alongside 288 financial institutions with nearly $29 trillion USD in assets, NILGOSC became a signatory to the CDP’s 2023 Non-Disclosure campaign, in calling on companies to report on their environmental impact through CDP’s questionnaires. This year, co-signers will engage 1,607 of the world’s highest-impact companies to demand that they disclose environmental data through CDP.
Renewed commitment to CDP (formerly the Carbon Disclosure Project), signing up to their 2023 Climate Change, Forests and Water programmes. NILGOSC supports the CDP’s work to improve the management of environmental risk by encouraging listed companies to measure and disclose environmental information, which it does by issuing annual questionnaires on behalf of its investor signatories, requesting standardised information on climate, water and forests.
Responded to a formal consultation launched by the Department of Agriculture, Environment and Rural Affairs (DAERA) on developing the future regulations that will place climate change reporting duties on specified public bodies in Northern Ireland.
Signatory to an IIGCC-facilitated letter to the EU commission on Preserving the EU Taxonomy’s sustainable purpose.
Continued to meet the requirement to remain a signatory to the UK Stewardship Code 2020, following the submission of its second Stewardship Report 30 June 2022.
NILGOSC won the Sustainable Investment Strategy (Climate) award at the 2023 LAPF Investments Awards, recognising NILGOSC’s work on addressing climate risk in the Fund, including: commencing voluntarily reporting against TCFD; transferring £2.6bn of passively held assets to low carbon transition funds; and building up of its infrastructure portfolio including renewable assets.
Alongside 31 other investors and financial institutions, in September 2023 NILGOSC supported a joint letter from the IIGCC, PRI and UKSIF to UK PM Rishi Sunak. The letter makes the argument that delaying key targets and lowering climate-ambitions could risk the UK missing out on investment to other regions and nations that are taking a more consistent, long-term approach.
Signatory to the CPD’s 2023 Science-Based Targets Campaign
2022
Completed the transfer of £2.8bn of investments in global equities from funds that follow standard indices, to LGIM’s Low Carbon Transition Fund which follows the Solactive L&G Low Carbon Transition Developed Market index. The fund aims to reach the goal of achieving Net Zero carbon emissions by 2050.
Signatory to a letter to the Financial Times on “Woke Capitalism”, encouraging companies that better management of carbon risks and constructive engagement with stakeholders is beneficial to long term value creation.
Alongside 64 other global organisations, NILGOSC supported a Statement on Sustainable Corporate Reporting calling for major standard-setting efforts for sustainability-related information to more closely align.
Signatory to the 2022 Global Investor Statement to Governments on the Climate Crisis, to urge global governments to raise their ambition on climate policy.
Successfully admitted as a signatory to the UK Stewardship Code 2020, following the submission of its first Stewardship Report.
Signatory to the CDP’s 2022 Science Based Targets Campaign.
Took part in a Department of Agriculture, Environment and Rural Affairs (DAERA) Cross-Sectoral Advisory Working Group on Climate Change Reporting by Public Bodies in Northern Ireland.
Endorses the Principles for Responsible Investment’s (PRI) Advance initiative, a new stewardship initiative designed for institutional investors to work together with the overall objective of advancing human rights through stewardship.
2021
Signatory to letters calling for sustained and improved climate ambition for the UK government. The letters call for continued climate ambition in advance of COP26, including progress on land-use challenges, energy efficiency and smoothing the transition to zero-emissions vehicles.
Signatory to 2021 Global Investor Statement to Governments on the Climate Crisis. Issued ahead of COP 26, the Statement reiterated the call for governments to raise their climate ambition, and implement meaningful policies
Signatory to an open letter to companies, drawing their attention to the IIGCC’s Investor Expectations on Physical Climate Risks and Opportunities.
Joined the Pensions and Lifetime Savings Association (PLSA), Investment Association (IA) and Association of British Insurers (ABI) Working Group to help UK pension schemes meet their obligations under the Climate Change Governance and Reporting Regulations, by developing a Carbon Emissions template for asset managers to complete.
Issued inaugural TCFD-aligned Climate-related Disclosures report, for the year ended 31 March 2021.
Announced investment in Renewable Energy Infrastructure projects – committing €50m to the Copenhagen Infrastructure Fund IV, which will invest in offshore wind, onshore wind, solar PV and other low carbon energy solutions.
Inaugural member of the Occupational Pensions Stewardship Council (OPSC), which was established by the DWP to promote and facilitate high standards of stewardship of pension assets.
Supported an OPSC-facilitated call to action for asset managers to allow asset owners to have more say when it comes to casting votes at the Annual General Meetings (AGMs) of the companies in which they are invested in.
NILGOSC contributed to the Department of Agriculture, Environment and Rural Affairs (DAERA) consultation on the Northern Ireland Climate Bill.
2020
Signatory to the PRI’s letter to the SEC opposing proposed rule changes, which could “introduce major impediments to ESG integration”.
Signatory to the PRI’ Investor Expectations Statement on Climate Change for Airlines and Aerospace Companies.
Signatory to a letter to the UK Government calling for a sustainable, resilient recovery following the COVID-19 pandemic.
Signatory to an open letter to EU leaders calling for a sustainable recovery from the COVID-19 pandemic.
Added to the Taskforce on Climate-related financial disclosures (TCFD) website’s official list of supporters.
2019
With other supporters of Climate Action 100+, co-filed a shareholder resolution at BP plc, calling on the company to demonstrate that its strategy is consistent with the Paris Agreement goals. BP was supportive of the resolution, and it passed with over 97% shareholder support at BP’s AGM in May 2019.
Joined the Institutional Investors Group on Climate Change (IIGCC),which is the European membership body for investor collaboration on Climate Change.
Signatory, alongside 250 other investors, to an Investor Statement on deforestation and forest fires in the Amazon rainforest.
Alongside other IIGCC members, signed an open letter to EU leaders ahead of the European Council meeting in December 2019, encouraging them to approve a target to achieve net zero emissions by 2050.
2018
Signatory to the CDP’s 2018 Non-Discloser Campaign. The annual disclosure request has been running since 2002 but the campaign was launched in 2017, and NILGOSC has continued participation each year since.
Signatory to 2018 Global Investor Statement to Governments on Climate Change.
Signatory to 2018 PRI-facilitated letter to IOSCO on ESG disclosure.
2017
Signatory to a Global Investor Letter to G7 and G20 Governments on Climate Change.
Alongside another UK Pension Fund, wrote a letter to EXXON regarding Methane emissions.
Founder Supporter Signatory to Climate Action 100+, a five-year investor-led initiative to engage the world’s largest corporate greenhouse gas emitters to take necessary action on climate change. Phase 2 of Climate Action 100+ is due to commence in 2023.
2016
Co-filed two shareholder resolutions proposed at the 2016 AGMs of Rio Tinto plc and Anglo-American plc, which both requested increased disclosure on climate risk. Both company boards recommended shareholders vote in favour of the proposals and the resolutions passed, receiving over 98% and over 95% shareholder support respectively.
Signatory to collective letter to the Tokyo Stock Exchange in response to a consultation on corporate reporting and disclosure.
Signatory to a collective letter to a UK communications company regarding succession planning.
Signatory to Global Investor Statement on Investor Obligations and Duties, a PRI-led initiative designed to give governments the confidence to provide international and national clarity on fiduciary duties, and the extent to which ESG factors should be incorporated into investment decision making.
2015
Co-filed shareholder resolutions at BP and Shell, as part of the ‘Aiming for A’ investor initiative, calling for additional Climate Risk Reporting. Both company boards recommended shareholders vote in favour of the proposals and the resolutions passed with each receiving over 98% shareholder support.
Signatory to letters calling upon stock exchanges to put in place voluntary guidance for issuers on reporting ESG information by the end of 2016.
2014
Signatory to the 2014 Global Investor Statement on Climate Change.
Signatory to the Global Investor Statement to the International Organization of Securities Commissions (IOSCO) Secretariat and its Executive Board on sustainability disclosure.
Joined a PRI co-ordinated collaborative engagement on water risks in agricultural supply chains, which concluded in 2020.
Joined a PRI co-ordinated collaborative engagement targeting companies in the US and France to improve the way they manage and report on the director nomination process, which concluded in 2017.
Along with 15 other UK Pension Funds, supported the production of The Guide to Responsible Investment Reporting in Public Equity, which was developed to help support pension funds’ wider efforts to include Responsible Investment in fund manager selection and monitoring processes.
2013
Signatory to the CDP’s Carbon Action campaign, and continued support until the campaign ended in 2019.
Signatory to CDP’s Forests campaign and NILGOSC has continued participation each year since.
2012
Signatory to a PRI-facilitated letter ‘Encouraging corporate participation in the UN Global Compact” ahead of the United Nations Conference on Sustainable Development held in Rio de Janeiro.
2011
Signatory to the second PRI-facilitated Global Investor Statement on the Arms Trade Treaty which supported a strong, legally binding and comprehensive Arms Trade Treaty. NILGOSC also signed the third statement in 2012.
Signatory to a PRI co-ordinated Water-disclosure engagement, encouraging companies to respond to the CDP Water-disclosure campaign. The engagement was repeated in 2012.
2010
Signatory to CDP’s first Water-disclosure campaign and NILGOSC has continued participation each year since.
Signatory to the PRI co-ordinated Seoul Initiative, a collaborative action to encourage companies to endorse the UN Global Compact.
2009
Joined the second annual Aviva Investors “Leaders and Laggards” Engagement on the UN Global Compact. NILGOSC participated in the annual engagements between 2009 and 2014.
2008
Published first Climate Risk Statement which set out the action NILGOSC would take to mitigate the risk of Climate Change to the pension fund.
2007
Signatory to the Carbon Disclosure Project (now CDP), supporting the CDP’s Climate Change campaign each year since.
Signatory to UN Principles of Responsible Investment (PRI) and commenced reporting against the PRI framework annually.