Railpen Investments, which manages some £17bn in UK railways pension schemes - has challenged its asset managers, investment advisers and actuaries to prove they are prepared for the long term economic shift necessitated by climate change.
Created by HSBC, architect of the HSBC Climate Change Index, Linklaters and Railpen, aRisk Audit, comprising 77 questions, will be sent by Railpen to more than 40 institutions. It will then be made available free by all three organisations to other investment managers who want to ensure their assets are positioned correctly for the impacts of climate change. The Audit coincides with a new government focus on the risk and fiduciary obligations of asset owners' current and future exposures to climate change. Lord Stern, author of the 2006 Stern Review and adviser to HSBC, believes th...
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