Dutch pension fund PFZW and the UK-based Environment Agency Active Pension Fund have scooped global awards for excellence in responsible investment reporting.
The pair were honoured at the RI Reporting Awards, organised by Responsible Investor magazine, at a ceremony in London on Tuesday evening.
PFZW – which stands for Pensioenfonds Zorg en Welzijn – went home with the award for best responsible investment report by a large pension fund (above €25 billion) while the Environment Agency’s Active Pension Fund claimed the gong in the small and medium-sized category (below €25 billion).
US pension fund CalPERS, the California Public Employees’ Retirement System, was commended for its reporting alongside Folksam of Sweden.
Ashley Taylor, who received the award on behalf of CalPERS at the event, said, “We’re delighted to have our report commended by these awards, and proud that we’re the only US fund to have been nominated.
“Most importantly we’re delighted that these awards highlight the importance of pension funds being as open and transparent as possible with their members and other stakeholders.”
PFZW’s was described by judges as “by far and away the best report”, who also said the publication “breaks new ground” in terms of a unique graphs and charts.
Judges said the Environment Agency Active Pension Fund – which is open to all Environment Agency employees, in contrast to its Closed Pension Fund – was “excellent” and “educational for readers” on the topic of responsible investment.
A recent study by European Sustainable Investment Forum (Eurosif) and the Association of Chartered Certified Accountants (ACCA) outlined how the overwhelming majority of investors – 90% – believe corporate social responsibility (CSR) and sustainability reports are “essential” for large companies. This importance can be transferred to responsible investment reporting by pension funds.
Meanwhile, in May, the Global Reporting Initiative (GRI) released G4 – an updated edition of the most widely used sustainability reporting framework in the world – which it hoped would cut out ‘tick box reporting’ by investors and businesses.
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