Climate change

We recognise the potential material effect of climate change on our Fund and have responded as follows:

We also ask our investment managers to present their TCFD reports and to deliver carbon risk metrics on their portfolios.

Two headlines from our January 2022 Climate Risk Report are that we achieved a 17.77% carbon reduction in our total equities portfolio between 29 May 2020 and 30 November 2021 and our total equities carbon footprint is 28.05% below blended benchmark.

We were very proud to be notified by the FRC on 1 September 2021 that we were one of the first pension funds to have achieved signatory status to the UK Stewardship Code 2020. Since then we have continued to set high stewardship standards and retained our signatory status.

Download: UK Stewardship Code 2020 Application to Retain Signatory Status