Legal & General Investment Management (LGIM) has announced plans to broaden its climate engagement reach by introducing new baseline expectations and calling for a faster smoother transition on a global scale.

The latest Climate Impact Pledge assessed companies across 20 climate-critical sectors, as well as providing more detail on LGIM's direct engagement with 100 'dial movers' that it has identified as having the potential to ‘galvanise’ action in their sectors. The report confirmed that, this year, LGIM engaged with more companies than ever before, holding them to account through potential voting sanctions or divestment when they do not meet expectations. LGIM also added two companies to its divestment list. It also further raised the bar for companies in three emission-intensive sectors, requiring them to disclose methane emissions and refrain from making new investments in thermal coal, which if not met can trigger a vote sanction. However, LGIM said that whilst there has been progress, the global pace of transition remains insufficient, arguing that companies need to do more to play their part in efforts to mitigate climate change risks.

The Border to Coast Pensions Partnership is searching for an external asset manager to support its first equity index proposition.

The Global Multi-Factor Equity Index Fund, which is expected to launch in early 2025 with more than £1bn of Partner Fund assets, aims to offer Partner Funds cost-effective access to a specialist index manager, overseen and managed by the Border to Coast investment team. As the first index launched by the pool, it is also expected to compliment Border to Coast’s existing range of actively managed listed equity strategies. In particular, Border to Coast said that responsible investment, integration of environmental, social and governance issues, and net-zero will be central to manager selection. The new strategy will reflect a mix of investment style factors that align with net-zero commitments made by Border to Coast and Partner Funds. It will also seek to outperform the MSCI All Country World Index by at least 0.5 per cent a year (net of fees) over rolling five-year periods.

Nuveen has announced a long-term partnership with Albert Kennedy Trust to support LGBTQ+ young people for at least the next three years.

Nuveen will provide an annual charitable contribution towards the trust’s work with LGBTQ+ 16- to 25-year-olds who are homeless, at risk of homelessness, or living in hostile environments around the UK. This will build on the relationship between the asset manager and the organisation on behalf of its International Alliance Business Resource Group (BRG). BRG has supported Nuveen’s internal LGBTQ+ community internally and externally for several years through training, industry-leading speakers and corporate participation in Pride events around the world. BRG is supported by Nuveen head of sustainability for real assets, Abigail Dean. Furthermore, Nuveen’s annual charitable contributions scheme are expected to offer the firm’s BRGs the opportunity to support charities aligned to their values of inclusion, diversity and equity, with each BRG choosing a charity of their choice and committing to support the charity through donation and other means.

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