Management-level roles assess climate-related risks through their direct involvement in investment decision-making and their oversight of the policies in place and the investment procedures in operation.
Other than where investment decisions are being made under delegated authority (for example, the addition of new stocks to the internally managed listed equities portfolio) all investment proposals are subject to a 2 stage process which involves the presentation of papers to an Investment Committee which considers and gives final approval.
The Investment Committee consists of senior investment professionals including the CEO, CIO, Head of Private Markets, Head of Global Equities and Chief Risk Officer.
Papers presented to the Investment Committee are required to include information on any material ESG issues identified, which includes risks faced from climate change.
The Investment Committee members perform a supervisory role which includes the consideration of whether climate change related issues have been adequately considered within the investment papers presented to them.