City of London’s new Lord Mayor to press pension funds on investment pledges

Bronek Masojada, a South African-born former chief executive of insurer Hiscox, is set to be sworn in as the new Lord Mayor of the City of London on Friday. Masojada is expected to focus on urging pension funds to honor their commitments to sustainable and ethical investment practices. This move underscores the city's commitment to integrating environmental, social, and governance factors into financial decision-making, which could have significant implications for corporate responsibility and sustainable finance globally. The focus on pension funds highlights a broader trend towards ensuring that major financial institutions align their investments with long-term societal goals.