Attending events at the recent COP26 conference on behalf of IFM was an enlightening experience for Gregg McClymont, whose beliefs in the importance of accelerating climate mitigation and adaptation actions over the next decade are aligned with IFM Investors’ Net Zero ambitions.
“An increasingly unliveable planet won’t be much fun for anyone,” says Gregg. “The heating planet is a tragedy of the commons. All nations therefore have to play their part in overcoming it, but some more than others. Time is running short,” he emphasises.
The outcomes of COP26 are in line with the actions IFM is taking as part of our commitment to reduce emissions across our asset classes targeting net zero by 2050, specifically the 40% reduction in emissions across the infrastructure portfolio by 2030.
Gregg joined IFM in July 2020 from The People’s Pension, a leading UK pension fund with roots in construction. He likens it to Cbus in Australia – the Construction and Building Unions Superannuation fund; one of Australia's largest public offer industry superannuation funds and a shareholder in IFM.
Prior to joining IFM, Gregg was an Oxford academic then a Member of the UK Parliament including four years as Shadow Pensions Minister, and since 2015 has worked in the pension funds and investment sector.
The road to IFM was, as he explains, “a winding path with cul-de-sacs and detours, through academia, politics, and pension funds investment policy.”
However, his decision to join IFM underscores his belief that, more than ever, the world needs long-term investment. “IFM’s pension fund ownership structure makes possible a decades-long returns horizon,” highlights Gregg.
“IFM demonstrates the power of collective ownership in protecting and growing the long term retirement savings of working people,” he adds.