Naomi Clark, head of product management for USSIM, is our latest guest on The Professional Investment Podcast. She chose the FT’s story that wild temperature swings are becoming the new normal as her news story of the week.
Naomi explains how even small temperature variability will create big challenges not only for our health but also for the economy. She noted that article’s emphasis on the economic impacts of climate change echo the concerns of USS.
She explains the scheme recently worked with the University of Exeter to produce different climate scenarios which highlighted both the economic damage of climate change and the benefits of action.
This work led USS to pursue an agenda of systemic change – working with other asset managers to build alliances to lobby the UK government for policy change.
But it’s not enough to make domestic changes – even if the UK had the most forward-thinking climate change policy, the world would still burn without global action.
That’s why Naomi was recently in Singapore to meet with internation asset owners and persuade them to lobby their governments for change.
We discussed how company engagement remains important even if USS has recognised systemic change will really move the dial. And that portfolio diversification is also important, especially for a universal asset owner.
Finally, Naomi asked other asset owners to work with USS to bring about the systemic climate change we need. Now is the time to be bold, she said.
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