TRUSTEE TRAINING ON CLIMATE CHANGE
The Perfect Storm Pension Fund is a trustee board meeting role-play that considers concrete steps for integrating climate change risk into the portfolio. Prominent members of Australia’s pension fund community debate seven resolutions at a trustee meeting, covering investment policy, implementation, investment strategy, timeframes, investment allocations, measurement and disclosure. This website contains recording of the meeting, information on the resolutions, links to training materials and relevant climate research.
BACKGROUND TO THIS BOARD MEETING
The PSPF Board has received two detailed discussion papers on climate change from management, on the investment implications of climate change. It has also had a presentation from a leading scientist who is also a contributing author and peer reviewer on the Intergovernmental Panel on Climate Change reports over the last three years.
The Board has considered its own compliance and legal position in relation to this issue regarding fiduciary duty and is addressing the topic within a risk management approach.
The Board’s knowledge of the issue is well-developed, but few decisions have been made to date. There is broad agreement that it is now time to make some decisions on the fund’s approach. This meeting has been convened to reach a conclusion on what are understood to be the main themes and the main decision points.