Northern Trust Delivers ESG Reporting Solutions to Marks & Spencer Pension Trust
ESG Analytics Support for £11 Billion Pension Fund’s Oversight, Governance and Reporting of Investments
LONDON – Northern Trust (Nasdaq: NTRS) today announces it is delivering a range of Environmental, Social and Governance (ESG) investment reporting solutions for the Marks & Spencer Pension Trust (M&SPT) in the United Kingdom (UK). The services support M&SPT’s oversight, governance and reporting of investments.
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.
The Marks and Spencer Pension Scheme is one of the UK’s 25 largest corporate pension schemes (source: Pension Funds and their Advisers 2021). It is a defined benefit (DB) pension scheme of which M&SPT is trustee, with £11 billion of assets (as at 30 April 2021).
Simon Lee, head of M&SPT and chief investment officer, said: “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. The data and insights provided by Northern Trust allow us to meet our ESG responsibilities as we select and manage investments whilst supporting our overall objective to provide long-term security for our members’ benefits.”
Mark Austin, head of UK, Institutional Investor Group at Northern Trust, said: “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. 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.”
In addition to delivering ESG analytics, Northern Trust also provides M&SPT with a range of asset servicing solutions including global custody, financial reporting and specialist fund administration and analytics for M&SPT’s private market portfolio.
Northern Trust’s analytical solutions are delivered via its Investment Risk & Analytical Services (IRAS) group. The group supports over US$8.1 trillion (as of 31 December 2020) of investments by asset owners and asset managers around the world. With consultants in Chicago, London, Basel, Abu Dhabi, Singapore and Melbourne, IRAS provides performance measurement, risk analysis and investment compliance monitoring and private markets analysis – enabling clients to gain greater insights into their investments for more informed decision-making.
Northern Trust’s Institutional Investor Group provides services to more than 290 UK pension funds with collectively more than US$945 billion (as at 31 December 2020) in assets under custody. Clients serviced include defined contribution master trusts, DB corporate schemes and funds of the UK Local Government Pension Scheme, with assets varying in size from US$20 million to US$60 billion.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2021, Northern Trust had assets under custody/administration of US$14.8 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
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