On the go: The Local Pensions Partnership has appointed Chronos Sustainability to work on a partnership target of attaining net zero emissions by 2050.
Chronos will advise and support the Local Government Pension Scheme pool, which announced its commitment to net zero portfolio emissions in September.
LPP’s net zero initiative gained recognition last month from the Institutional Investors Group on Climate Change, which has helped guide and advise on a net zero route map.
Frances Deakin, LPP’s head of responsible investment, said: “The energy transition presents a uniquely challenging 30-year investment context for our long-term portfolio management.
“Reaching net zero by 2050 is an appropriate but extremely challenging goal, requiring new data and expert advice.
“Working closely with Chronos will enrich our insights, inform our thinking, and assist the development of a transition plan aligned with responsible investment, managing risks, identifying opportunities, and achieving positive outcomes for our client pension funds.”
LPP has also been awarded the 2020-21 Planet Mark certification, a globally acknowledged carbon footprint and sustainability accreditation.
The pool has pledged to continue cutting its carbon footprint within Planet Mark’s 2.5 per cent annual reduction goal.
Planet Mark’s Cool Earth programme supports various initiatives, including the protection of endangered rainforests, aiding the Asháninka community in central Peru, and supporting the charity and social enterprise the Eden Project.
