Local Government Pension Scheme (LGPS) funds and pools have been recognised by the Paris Aligned Asset Owners Initiative (PAAO) for the approach taken on their net-zero journeys.
Wiltshire Pension Fund, Avon Pension Fund, Brunel Pension Partnership and the Northern LGPS were all included as case studies in the PAAO’s first Progress Report, which showcases the steps that assets owners are taking to reach their net-zero goals.
Wiltshire is the focus of two case studies in the report – one on the fund’s use of tools to indicate companies where engagement should be prioritised and a second examining improvements made to reporting under Taskforce on Climate-Related Financial Disclosures (TCFD).
According to a statement from Wiltshire Pension Fund: “Our approach is to decarbonise without sacrificing any financial return, by protecting ourselves from risks, by trying to engage with companies which are not prepared for a transition to a low-carbon economy in order to drive change, and by seeking out attractive investment opportunities which arise from transition.”
Brunel Pension Partnership was highlighted for the development of Paris-aligned benchmarks, and Northern LGPS for its work on measuring and setting targets for increasing allocations to climate solutions.
PAAO is an international group of asset owners committed to supporting the goal of net-zero greenhouse gas emissions by 2050 or sooner. It has 57 signatories representing over $3.3trn in assets under management.
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