Today, Railpen, which runs the £35 billion railways pension schemes, launched their sustainable ownership report for members, Driving the change we want to see.

The report clearly details Railpen’s sustainability endeavours, highlighting the investment manager’s approach to integrating ESG considerations and issues in investment decisions, the steps they take to improve company behaviour around these issues, and their impact on behalf of their members. It has been designed to be as accessible to members as possible, with case studies on issues such as climate change and executive pay, minimal use of jargon and a glossary of key concepts and terms.

The report’s launch precedes Railpen’s first ever formal member survey on sustainability/sustainable ownership issues, which will be issued later in November. The survey will include questions on members’ views on climate action, workforce treatment and human rights. Findings from the survey will then be further explored in member roundtables and discussions.

Caroline Escott, Senior Investment Manager, said: “COP26 has placed the climate emergency at the forefront of everyone’s minds while Covid-19 has highlighted the interconnectedness of our economy, environment and society. It’s therefore more important than ever that we talk with, and listen to, our members about how we do sustainable ownership. We take our role as stewards very seriously and this report shows how we are walking the walk, working to achieve impact on our members’ behalf and creating a better future to retire in”.

John Chilman, Chief Executive, said: “Our purpose is to secure our members’ future. We have a rich legacy of advocacy on sustainable ownership – it makes sense both for our investment returns and for helping to create the kind of world our members want to retire into. Our investments are predicated on investment beliefs and our sustainable ownership values. One of our priorities is ensuring the application of our capital to deliver positive impacts on the regions and sectors that our members live in, so that they can see and reap the benefits of their investments in more ways than one. Driving the change we want to see clearly and concisely shows how we are doing just that”.