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Governance

Railpen calls for more corporate disclosure from its holding companies

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Railpen wrote to more than 200 of its holding companies requesting enhanced corporate disclosure in line with its new voting and engagement policy, which was recently updated to incorporate climate risk.

RPMI Railpen, which runs the assets of the 28 billion ($38 billion) Railways Pension Scheme, London, said it updated its policy to focus on areas such as board composition and effectiveness, remuneration, and shareholder rights and disclosure.

"We believe that companies with robust corporate governance structures are more likely to achieve better long-term financial performance, and more effectively manage all of their risks and opportunities. This helps us to achieve our mission to pay members' pensions securely, affordably and sustainably," Leo George, head of sustainable ownership at Railpen, said in a news release.

Railpen is a supporter of the Task Force on Climate-related Financial Disclosures, which was established in December 2015 and asks companies to disclose their governance, strategy, risk management, and metrics and targets related to climate.