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Vicious circle of short-termism threatens pensions.

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Short-sighted investment strategies are putting pension funds at risk from the effects of future social and environmental upheaval, a new report has claimed.

Fund managers say that they are often prevented from making ethical investments by their clients, who are preoccupied with short-term performance, according to the report, published by AccountAbility and the World Economic Forum's Global Corporate Citizenship Initiative.

This is in turn affecting analysts, who say they find it hard to discuss social and environmental performance issues when fund managers are focusing on short-term market valuations. "My research on social and environmental risks and opportunities got me my five minutes of fame," one analyst told the report's authors. "But there were no buyers for the work."

The report calls for a set of international governance...

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