"We believe that the growing emphasis being placed by companies on sustainability, and the drive to net zero, needs to intensify. Moreover, it is only by honestly engaging with the full range of stakeholders — including consumers, employees and shareholders — that value can be sustained over the long run. To the extent there are difficult decisions and trade-offs, they need to be explicit, open and explained to stakeholders."

Read the complete letter to the Financial Times

The statement is a collaboration involving the following asset owners:

Faith Ward, Chief Responsible Investment Officer, Brunel Pension Partnership

Richard Tomlinson, Chief Investment Officer, Local Pensions Partnership Investments

Morten Nilsson, Chief Executive, BT Pension Scheme Management

Craig Thornton, Chief Investment Officer, Scottish Widows

Helen Dean, Chief Executive, Nest

Simon Pilcher, Chief Executive, USS Investment Management

Mark Walker, Chief Investment Officer, Coal Pension Trustees Investment

Rachel Elwell, Chief Executive Officer, Border to Coast Pensions Partnership

Gordon Ross, Chief Investment Officer, LGPS Central

Brian Bussell, Chair, Aviva Staff Pension Trustee and Chair, Friends Provident Pension Scheme Trustees

Craig Martin, Chief Pensions Officer, Environment Agency Pension Fund

David Vallery, Chief Executive, Lothian Pension Fund

Cllr Gerald P Cooney, Northern LGPS

David Murphy, Chief Executive, Northern Ireland Local Government Officers’ Superannuation Committee

Mike Hampton, Chair, RAC Pension Trustees

Adam Matthews, Chief Responsible Investment Officer, Church of England Pension Board

John Chilman, Chief Executive, Railpen

Rachel Brothwood, Director of Pensions, West Midlands Pension Fund