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ESG Update: November 2026

24 October 2026 / Author(s): Helen Powell
Issue: November 2026 / Categories: ESG Update
Company: A&O Shearman

UK occupational pension schemes have considerable heft as institutional investors, with over £2,065bn in assets under management.1 Their trustees must exercise investment powers in line with their fiduciary duty, often summarised as acting in the interests of beneficiaries: normally (in the investment context) meaning their best financial interests. This ESG Update looks at how industry understanding of fiduciary duty in pension scheme investing continues to evolve to address climate change and other ESG challenges.

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