Activists push South African pension funds to tally climate costs

Pension funds in South Africa have a legal obligation to account for the financial effects of climate change on their investments, according to two groups lobbying money managers to pay closer attention to the issue. Shareholder activists Just Share and environmental law organisation ClientEarth have written to more than 50 funds in Africa’s most-industrialised nation about their duty to savers. The local industry oversees about R4.2-trillion in retirement investments, according to the two groups.