We know that climate change is an important topic for our members and employers, and we want to inform all our stakeholders about what work we are doing to manage this material financial issue.
Climate change represents a major financial risk to the investments, and action needs to be taken to properly manage this risk. As a Fund we have a goal of protecting the investments from climate change risk, and safeguard the financial future of the fund.
To mark the end of COP28 we have created the below one page summary from our Climate Report 2023 (PDF, 2 MB)(opens new window) which contains some key facts, figures and news!
Our climate ambition:
Net Zero carbon emissions across all investment portfolios by 2050.
2023 Climate Strategy and Action Plan (PDF, 63 KB)(opens new window)
We commit to:
- A whole Fund carbon reduction target of 50% by 2030
- A listed equities carbon reduction target of 43% by 2025 and 69% by 2030
- Allocating 30% of the Fund to sustainable/low carbon green assets by 2025, and 35% by 2030 (as measured by the long-term strategic asset allocation).
- All of our property investments being aligned with a net zero by 2050 target by 2030
- Engaging with our top 10 emitters and reporting transparently on our findings
How are we doing?
- Our carbon footprint has REDUCED BY 23.3% (as at 31 December 2022)
- Current "green and sustainable" assets: 28.7% of our long-term allocation - on track to meet our target
- 86% of our property fund investments have set a target of Net Zero by 2050 or earlier
- We have reported on our TOP 10 EMITTERS demonstrating what actions we are taking
WANT TO LEARN MORE?
Visit our newly updated climate page to read more about our approach, or view our in-depth Climate Report 2023 (PDF, 2 MB)(opens new window)
Share this page
