Bad Advice Makes Risky Business (UK Divest)
Pensions use models that drastically understate the impact of climate change on the economy. What does this mean & what can we do about it?
Is the climate risk advice you get too good to be true?
Two new reports argue that it is. Leading actuaries, and an economist who predicted the 2008 financial crash, argue that current modelling ignores key insights from climate scientists and understates catastrophic risks to portfolios and to the global economy.
Join us on the 28th November to hear first hand from expert witnesses including;
– Report Author Professor Steve Keen
– World leading independent financial think tank Carbon Tracker.
– Depute Convenor at Unison Scotland, Stephen Smellie
“it’s essential trustees feel confident to question and challenge their advisers and the output from climate scenario analysis.”
Mark Hill, Climate and Sustainability Lead, The Pensions Regulator
Well, that’s what Mercers say!
We are now at 1.2 degrees of warming. A major UN report says that the 2020s are the decade when global CO2 emissions need to decline by 45 per cent to stay under the danger limit of
1.5 degrees of warming. Yet emissions are still rising and money is continuing to flow to new fossil fuel projects that will lock in more emissions and may become stranded assets.
Concerns about existential, macro threats have led many local councils, and the UK Parliament to declare a “climate emergency”. And the United Nations Secretary General says “investing in new fossil fuels infrastructure is moral and economic madness.”
So how can advice from Mercer effectively argue the opposite, that these risks can easily be managed and that it’s sensible for pension funds to keep investing in fossil fuels?
Mercers advise over 50% of Local Government Pension Schemes. It’s vital that UNISON members on pension boards and committees are equipped to challenge the advice they receive.
Don’t make pension holders pay now for bad advice, and pay later for climate chaos.
Join us on the 28th November to find out more.
Register your (free) place via Eventbrite
|Tuesday 28 Nov 2023 6:00pm
|Tuesday 28 Nov 2023 7:00pm