After years on the fringes of mainstream portfolio management, responsible investment is making its way to the top of the pension fund agenda. Largely driven by a greater appreciation of the impact of climate change on the global economy, trustees are taking a closer look at how an environmental, social and governance (ESG) policy can help secure the long-term future of their funding positions.

Pension funds are certainly in a position to drive the responsible investment agenda, given that the world’s top 300 funds control an estimated $12,000bn (£7,000bn, €8,000bn) in assets.