UNJSPF Press Release: Strategic Partnership with Entelligent
8 November 2018
The United Nations Joint Staff Pension Fund (UNJSPF, the Fund) is pleased to announce that it has signed a strategic partnership with Entelligent (https://www.entelligent.com/), a leading provider of predictive climate analytics, to support our sustainable investment strategy.
UNJSPF’s sustainable investment strategy is continually evolving as new tools become available, and our partnership with Entelligent is an important step forward in this evolution. In that context, our 2014 efforts to signal our commitment to a low carbon strategy through a passive investment in low carbon Exchange-Traded Funds (ETFs) was just the first step. We are now planning to move to an active strategy by using a highly sophisticated climate and energy simulation model to assess companies’ ability to adapt to various carbon emission scenarios. This nonfinancial “E” score will be used as an input factor in our proprietary ESG investment-decision supporting technology.
Sudhir Rajkumar, Representative of the Secretary-General (RSG) for UNJSPF Investments, stated his strong commitment – implemented since he took office in January 2018 — to ensuring that the Fund achieves and maintains a leadership position in implementing sustainable investment strategies in its US$64 billion multi-asset class, global investment portfolio — 85% of which is actively managed in-house. Herman Bril, Director in the Office of Investment Management, who has lead responsibility for the Fund’s sustainable investment strategy, stated that a key part of the Fund’s approach to sustainable investing is the belief that portfolios which integrate material Environmental, Social, and Governance (ESG) metrics in their investment decision making process have the potential to provide returns that are superior to those of conventional portfolios, while exhibiting lower risk over the long term.
Profile of UNJSPF:
The United Nations Joint Staff Pension Fund (UNJSPF, the Fund) is a defined benefit fund established by the General Assembly of the United Nations in 1948.
The Fund manages a US$64 billion multi-asset class, global investment portfolio, 85% of which is actively managed in-house.
The Fund invests globally in over 100 countries and regions, and in a broad range of asset classes (global equities, global fixed income, private equity, real estate, infrastructure, timber, and commodities).
The Fund is entrusted to provide retirement, death, disability and other benefits and related services to over 205,000 staff and retirees of the United Nations and 23 other organizations admitted to membership in the Fund.
The Fund has a long-term investment return target of 3.5% real (net of inflation) annualized in USD terms, which it has to achieve while remaining within approved risk tolerance parameters and meeting investment criteria mandated by the United Nations General Assembly.