Johannesburg, 14 July 2023 – The Eskom Pension and Provident Fund (EPPF) is proud to announce its membership to the Net-Zero Asset Owner Alliance. This is part of the United Nations Environment Programme (UNEP) Finance Initiative which brings together industry role players that catalyse action through their work to deliver more sustainable global economies.
EPPF Chief Executive and Principal Officer Mr Shafeeq Abrahams explains that while there are various measures across the industry to gear businesses toward sustainability, much more needs to be done. “We recognise that simply maintaining the status quo lacks the necessary urgency and impact. We believe in moving from sustaining to regenerating our environment and life on Earth,” he adds.
The EPPF shared its broader sustainable investment plans at a breakfast event in Johannesburg this week. The Fund’s Chief Investment Officer Ms Sonja Saunderson says her approach is for regeneration to be central to everything the EPPF does, “We are intentional when we say we put life at the centre of everything we do. There needs to be a more holistic approach to the climate crisis, and we must seamlessly integrate justice, climate, biodiversity, and human dignity.”
The EPPF’s members and pensioners are at the core of everything it does, especially when considering investment decisions. Saunderson points out that the ability to pay pension benefits is important but needs to happen in a sustainable world, “We want our members to be able to enjoy their hard-earned retirement savings in a sustainable world and society. Just as transformation remains a cornerstone of our investment strategy, infrastructure investing will also be a key focus area going forward. If you think about it, members and their families will ultimately benefit from having sufficient infrastructure when they retire, while enjoying a healthy economy and society.”
The (UNEP) Finance Initiative has congratulated the Fund on the approval of its Sustainability Policy which makes a commitment to a net-zero future in 2050 through engagement and responsible investment. The EPPF is proud to take a proactive approach to environmental regeneration, social justice and economic parity issues so there’s a proactive approach before these matters pose financial risks.
About the EPPF: The Fund provides retirement fund and investment management services to its members. Members join the EPPF as part of the conditions of service of their participating employers (Eskom Holdings SOC Ltd and its subsidiaries). In-service members who reach retirement age then become pensioners with a lifelong retirement benefit. Those that resign and choose to leave their retirement benefit to be managed by the EPPF become deferred members. The EPPF has more than 80 000 in-service and deferred members, as well as pensioners.