10 October 2018
ClientEarth has recently published an article reporting that a member of Shell’s pension fund has warned that they will take the fund to the Pensions Ombudsman for maladministration – unless it can prove it is managing its climate-related risk.
ClientEarth is supporting the member’s case, which follows only two months after an Australian pension fund member launched a similar action against his pension fund.
Some might argue that these cases raise the professional risk dial for scheme actuaries (as per ClientEarth’s Risky Business report on actuaries some months ago).