UK. 12 pension funds launch EM climate collaboration
A group of 12 UK pension funds convened by the Church of England (CofE) Pensions Board have teamed up in a bid to find ways in which to support the climate transition in emerging markets.
The schemes include the £83bn Universities’ Superannuation Scheme; the £57bn BT Pension Fund; Railpen, which manages the £37bn of assets; the £35bn Brunel Pension Partnership; the £55bn Border to Coast Pension Partnership; Nest, which has £24bn; and the £30bn Legal & General Workplace Pension Plan and Stakeholder Pension Plan.
The initiative – backed by pensions and financial inclusion minister Guy Opperman – will jointly consider how to support the climate transition in emerging markets and was announced at the opening of the two-day Net Zero Delivery Summit at Mansion House in London today (12 May).
The 12 funds said they recognised the urgency of supporting the climate transition in emerging economies and committed to explore how greater impact could be achieved through a “shared understanding of the need, opportunity and mechanisms to provide such investments in these markets”.
The intervention was agreed following an investor roundtable hosted by the CofE Pensions Board with the pensions minister.
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