How can we put the ‘L’ back in ‘Local’ Government Pension Schemes?
Pardon the Interruption
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It was great to meet the mallowstreet Local Government Pension Scheme (LGPS) members yesterday at the LGPS Indaba.
The theme that surfaced in a number of the keynote sessions and investment masterclasses was this: how can we put the ‘L’ back in ‘Local’ Government Pension Schemes? With local authorities strapped for cash, how can the pension fund invest to support the community while still making positive financial returns?
My takeaways from the day:
· To achieve net zero targets, you must start today: while it is a hugely complicated task, it is one that is well underway at the London CIV. I learned how the pool is supporting LGPS in their decarbonisation efforts, and how data is driving decisions.
· The role of the pools needs to evolve: the pools have made a great start, and now is the time for more collaboration and dialogue between them to gather the huge amount of expertise they have to help support individual LGPS funds.
· Nature needs to be on the radar, but how?: thinking beyond net zero, how can pension funds focus on local projects that help restore nature and simultaneously provide a positive financial return? We discussed nature credits, and heard how biodiversity can be incorporated in urban planning and new housing developments.
A huge thank you to our speakers: Gustav Loriot, Tony English, Sally Bridgeland and Jill Davys.
Thank you so much to everyone who attended and contributed to the day – for your questions, comments and insights.
For those who were there, what are your main takeaways? For those who couldn’t make it, what are the burning questions on your mind around the key challenges you are facing?