The chairs of 14 major UK pension firms collectively managing £267.9bn of assets have come together to form a new net zero alliance, pledging to align their investment portfolios with the Paris Agreement’s more stretching target of capping global warming at 1.5C. HSBC Bank Pension Trust, Barclays Retirement Fund, Unilever UK Pension Fund, Tesco PLC Pensions Scheme and Pennon Group Pension Scheme have announced net zero targets for the first time as they signed up to the A4S Pension Fund Chair Net Zero Statement of Support, according to a statement from the group today. The chairs of BT Pensions Scheme, Brunel Pension Partnership, Tesco PLC Pension Scheme, National Employment Savings Trust, South Yorkshire Pension Fund and the Environment Agency Pension Fund have also signed up to the initiative. The new coalition’s mission statement, which has been coordinated by Accounting for Sustainability (A4S) – a group dedicated to sustainable finance – states that signatories recognise the scale of the transition needed and the challenges climate change presents for governments, business, and society.
Business Green 14th July 2021 read more »