The U.K. Department for Work and Pensions launched a task force to assist U.K. asset owners with investment data and analysis on social factors.
The DWP wants the task force to identify reliable data and sources that could be used by retirement funds to assess and manage financially material social risks and opportunities.
The task force will analyze issues such as labor rights and health and safety, supply chain and modern slavery issues, and inclusion and diversity.
The group will also monitor and report on developments relating to the International Sustainability Standards Board and other international standards.
"The importance of understanding and integrating social factors into the investment process has come to the top of the agenda for investors in recent years. However, the range and quality of data on social factors continues to be a challenge," Daniel Jarman, stewardship manager at the £39 billion ($47 billion) Pension Protection Fund, London, and member of the task force, said in a news release Tuesday.
Luba Nikulina, chairwoman of the task force on social factors and chief strategy officer at IFM Investors, added in the release: "Right now, the investment industry doesn't have a comprehensive way to measure these factors, and that's why I'm so excited to lead this task force created with the specific purpose to help pension trustees identify, assess and manage social risks and opportunities."
The members of the task force are:
- James Alexander, CEO, U.K. Sustainable Investment and Finance Association
- Stephen Barrie, deputy director ethics and engagement, Church of England Pension Board, London
- Joe Dabrowski, deputy director-policy, Pensions and Lifetime Savings Association
- Joe Dharampal-Hornby, public affairs manager, Impact Investing Institute
- Caroline Escott, senior investment manager, Railpen
- Rachel Howarth, CEO, ShareAction
- Ben Howarth, manager climate and open data policy, Association of British Insurers
- Daniel Jarman, stewardship manager, PPF
- Hilkka Komulainen, head of responsible investment, Aegon U.K.
- Paul Lee, head of stewardship and sustainable investment, Investment Consultants Sustainability Working Group
- Doug McMurdo, chairman, Local Authority Pension Fund Forum
- Maria Nazarova-Doyle, head of responsible investment and stewardship, Scottish Widows
- Luba Nikulina, chief strategy officer, IFM Investors
- Valeria Piani, head of stewardship, Phoenix Group
- Sarah Wilson, CEO, Minerva Analytics