Teachers’ Pension to establish ESG management committee Move is part of efforts by Korean pension fund to integrate ESG into investment decisions

Translated by Ryu Ho-joung 공개 2021-10-28 08:07:12

이 기사는 2021년 10월 28일 08:05 더벨 유료페이지에 표출된 기사입니다.

Teachers’ Pension is set to create a committee to oversee environment, social and governance (ESG) matters in its latest push to integrate ESG factors into the fund’s management.

The Korean pension scheme’s board of directors recently approved the establishment of the ESG management committee, according to industry sources on Tuesday.

The newly created committee will be responsible for matters related to the pension scheme’s ESG management – including setting up ESG strategy and directions, developing ESG initiatives and monitoring ESG risks.

The committee will consist of at least seven but no more than nine members. External directors should comprise half of the total. Approvals require attendance of a majority of the committee’s all members and support from a majority of the members present.

The move is part of efforts by the pension fund to incorporate ESG into its operations and investment process. Teachers’ Pension earlier this year hired a consulting firm to review its management strategy including an ESG roadmap.

Teachers’ Pension included ESG factors in the criteria when selecting external managers for its domestic equities portfolio in May. It also required managers to disclose their ESG policies and performance in a tender process to award private equity mandates this summer.

According to its ESG roadmap, Teachers’ Pension will build concrete ESG initiatives in the mid to long term and integrate ESG factors into its overall governance by 2023. It also plans to receive an ESG rating by 2025. (Reporting by Hee-yeon Han)
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