If you are a South African pension fund, the answer is yes.
Regulation 28 of the South African Pension Funds Act No. 24 of 1956, which came into effect in July 2011, states that a pension fund’s fiduciary duty supports the adoption of a responsible investment approach to deploying capital into markets that will earn adequate risk adjusted returns.
It also states that prudent investing should consider factors which may materially affect sustainable long-term performance of a fund’s assets including factors of an environmental, social and governance character.
The FSCA issued Guidance Notice 1 of 2019 “Sustainability of investments and assets in the context of a retirement fund investment policy statement” to guide boards of retirement funds on how to comply with Regulation 28.