LPFA to showcase climate progress via new web page
Pardon the Interruption
This article is just an example of the content available to mallowstreet members.
On average over 150 pieces of new content are published from across the industry per month on mallowstreet. Members get access to the latest developments, industry views and a range of in-depth research.
All the content on mallowstreet is accredited for CPD by the PMI and is available to trustees for free.
The London Pensions Fund Authority has created a ‘net zero hub’ on its website where it intends to show the progress it is making against its climate targets. It is also due to announce a target for increasing investment in climate solutions.
The £7.6bn local government scheme launched the new section on its website last week. It said the separate area has been installed “so that everyone can easily track our progress against our six net zero goals”.
LPFA’s six climate goals are:
- To reduce portfolio greenhouse gas emissions by 75% by 2030
- To maintain an implied temperature rise of well below 2 degrees Celsius
- To increase investment in climate solutions, setting a target for this in 2023
- At least 32% of material sector investments in the portfolio to be aligned with net zero by 2025, rising to 55% by 2030
- At least 70% of financed emissions aligned with net zero or subject to engagement
- Reduce GHG emissions per full-time employee by 50% by 2030
The scheme with 93,000 members said that when the data is ready at the end of this year, users will be able to click through each goal and find out how the fund has progressed against them.
An LPFA spokesperson said: “Climate change is a financial risk to our fund and, from our member surveys, we know that our members also want to see us take action on the issue, so we’re trying to make our communications around our net zero plans simple and easy to understand for as many people as possible."
The spokesperson added: "It's also important that we are transparent about our net zero progress, of course. When the data is ready at the end of this year, users will be able to click through each of our six net zero goals and find out how we're doing."
An LPFA spokesperson said: “Climate change is a financial risk to our fund and, from our member surveys, we know that our members also want to see us take action on the issue, so we’re trying to make our communications around our net zero plans simple and easy to understand for as many people as possible."
The spokesperson added: "It's also important that we are transparent about our net zero progress, of course. When the data is ready at the end of this year, users will be able to click through each of our six net zero goals and find out how we're doing."
