A voluntary association representing public sector pension funds has written to the chairs of all FTSE listed companies requesting that they give shareholders a vote on plans for reducing carbon emissions.
The Local Authority Pension Fund Forum (LAPFF) joined Sarasin & Partners LLP, CCLA and Ethos Foundation in calling for a ‘Say on Climate' vote in a bid to enhance transparency and accountability.
The letter congratulated those Boards that have already taken this step. However, it urged all companies to follow suit by disclosing their transition plans aligned to a 1.5°C temperature outcome and allowing for more investor oversight.
Cllr Doug McMurdo, chair of LAPFF, said: ‘The lack of disclosure and the timidity of climate plans at many companies are very serious concerns for investors. Such concerns should be addressed by all companies publishing credible climate action plans and allowing investors to have a say on whether the strategies are fit for purpose.'
