On the go: Brunel Pension Partnership, composed of 10 Local Government Pension Scheme funds with around £30bn in assets under management, has committed to a 50 per cent reduction in its carbon emissions across its portfolio by 2030, with the goal of achieving net-zero by 2050.
The LGPS pool has been involved in the launch of the Net Zero Investment Framework, which launched for consultation in August last year.
“The NZIF is the first framework to provide investors with the tools they need to follow through on that ambition to be Paris-aligned,” Brunel stated, referring to the goals of the Paris Agreement to keep temperature rises below 2C. The 33 signatories to the NZIP have assets under management worth around $8.5tn (£6.1tn).
“We provided early sponsorship, Avon Pension Fund provided investment data used in the research phase, and we have continued to partner to ensure the framework was researched, built, consulted on and, finally, delivered,” a statement read.
Other investors involved in the framework include the £2.7bn Oxfordshire County Council Pension Fund, the £2bn Cornwall County Council Pension Fund, the £4.3bn Devon County Council Pension Fund, and the £3.7bn Environment Agency Pension Fund.
David Vickers, chief investment officer at Brunel, said that the pool has committed to a 50 per cent reduction in its emissions by 2030, and is aiming to reach net-zero by 2050.
“This framework provides determined investors with the roadmap they need to address climate issues across their portfolios,” he said.
“For Brunel, our focus now turns to building net-zero portfolios in partnership with clients who share our climate ambitions.”
Faith Ward, chief responsible investment officer at Brunel and chair of the Institutional Investors Group on Climate Change, said: “[The] urgency of the climate crisis means investors and asset owners need to start using this today.”
This article originally appeared on Mandatewire.com
