PGI switches unit holders to climate-indexed approach

PGI chief investment officer Tim Chesterfield says defining its investable universe by the FTSE Russell TPI indices is part of PGI’s new strategy for New Zealand and Australian equities.

The TPI is a global, asset-owner-led initiative which assesses companies’ preparedness for the transition to a low-carbon economy and aligns their investments with the Paris Agreement.

It was created by the Church of England and the London School of Economics’ Grantham Research Institute on Climate Change and the Environment and is based on forward-looking measures to evaluate a company’s management of climate-related risks and opportunities.

“Working with FTSE Russell as our index provider enables us to structure our investments with a keen focus on the need for rapid and sustained reductions in greenhouse gas emissions,” says Chesterfield.