September 10, 2018 (03:45)

ESG guideline for Pension Funds

More than 80 international private pension supervisors are to receive guidance on the application of environmental, social and governance (ESG) factors in the supervision of pension fund investment.

The International Organisation of Pension Supervisors (IOPS) is developing the guidelines in response to interest in ESG issues from its members, said Dariusz Stańko, head of the IOPS secretariat at the Organisation for Economic Co-operation and Development (OECD).

The guidance, which will be voluntary, is likely to be issued next year.

The IOPS is an independent international body representing entities involved in the supervision of private pension schemes around the world. It currently has 86 members and observers from 76 jurisdictions worldwide. Its secretariat is hosted by the OECD.

The organisation publishes Principles of Private Pension Supervision, designed to promote good governance of pension funds, as well as a methodology for authorities to undertake self-assessment against these principles. However, these do not currently acknowledge ESG factors.

The IOPS will discuss the prospective ESG guidelines with its members at an October meeting in China.

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