Cheviot Trustees Limited continues to adopt a net zero commitment and has published the third TCFD report, reporting year end 31 December 2023, with plans for improved reporting with a new Fiduciary Manager.
The report sets out the Trustee’s response to the TCFD requirements in respect of the Money Purchase Section
of the Cheviot Pension, an authorised. The report reports on the scheme year January 2023 to December 2023.
This report is Cheviot’s third TCFD report. It sets out the actions and analysis undertaken by the Trustee in line
with the recommendations for improved reporting and transparency in relation to climate related risks and
opportunities as set out by the TCFD in respect of the Money Purchase Section.
The Trustee has also appointed a new investment adviser and fiduciary manager in February 2024 for all schemes and
sections in the Trust. Van Lanschot Kempen Investment Management (UK) Limited (VLK) was appointed as
fiduciary manager following a detailed assessment period. VLK were chosen due to its track record of delivering
strong risk adjusted returns over the long term for their clients.
VLK’s approach to sustainability was a key driver for its appointment to the Section which has found it difficult
to access sufficient robust data from the underlying managers. VLK is the oldest independent financial
institution in the Netherlands and its commitment to sustainability stems from its European roots.
The Trustee is
confident that VLK will improve compliance and engagement and enable Cheviot to manage and monitor its
commitment to reaching net zero going forward more effectively than under the previous arrangements.
Cheviot Trustees Limited
August 2024
For more information see the members' factsheet on climate related issues and Cheviot's 2024 TCFD report.