Northern Trust has expanded its range of asset servicing solutions for Marks & Spencer Pension Trust (M&SPT) with the addition of environmental, social and governance (ESG) investment reporting.
The new services support M&SPT’s oversight, governance and reporting of investments. In addition to delivering ESG analytics, Northern Trust also provides global custody, financial reporting and specialist fund administration and analytics for M&SPT’s private market portfolio.
Northern Trust is providing M&SPT with analytical reporting solutions through its ESG Insights service, launched in 2020. M&SPT uses the data and insights delivered by the service to help track specific environmental risk indicators associated with its investments.
M&SPT also draws on this information to monitor the scheme’s ongoing alignment with its ESG objectives, and to support engagement with asset managers and stakeholders on investment strategy and asset allocation.
The data will also be used to support its mandatory UK climate risk Task Force on Climate-related Financial Disclosures (TCFD) reporting, Northern Trust explains.
Simon Lee, head of M&SPT and chief investment officer, says: “As trustee of the Marks & Spencer Pension Scheme, we are determined that the impact of our investment decisions today does not compromise our payment of pensions in the future.”
According to Lee, the data and insights provided by Northern Trust allow M&SPT to meet its ESG responsibilities as it selects and manages investments while supporting the overall objective to provide long-term security for members’ benefits.
Mark Austin, head of UK, Institutional Investor Group at Northern Trust, comments: “As a long-term partner to the retirement industry, Northern Trust is focused on helping pension managers and trustees meet their governance and reporting obligations.”
Austin adds: “Supporting M&SPT’s requirements for ESG-related insights and heightened transparency over its assets is a natural extension of our role as its asset servicer. We are committed to closely supporting our client’s requirements as they continue to evolve, along with the demands of the market.”
Elsewhere, Northern Trust Switzerland has received regulatory approvals to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in the Swiss market.
