Sustainable investment or ESG has evolved from being a niche consideration for pension scheme trustees to being at the core of what they do. This shift has been heavily driven by regulation – both through October 2019 rules changes surrounding pension fund statement of investment principles as well as through new TCFD reporting requirements, which started to be rolled out to schemes in October 2021. Trustees are also increasingly concerned about the stewardship of the assets they hold and in ensuring that asset managers continue to act in their schemes’ best interests.