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Climate Change

Climate Change

SPFO Logo 2021

SPF believes that Climate Change is a systemic risk and thus, a material long-term financial risk for any investor that must meet long-term obligations.

Strathclyde Pension Fund's Climate Change strategy has the explicit objective of implementing an investment strategy that is consistent with achieving the goal of global net-zero emissions by 2050.

SPF has a target of net-zero emissions across its own portfolios by 2050.

SPF Climate Change Strategy 2021

SPF FAQs Document 2021

 

 

We are an active member of key investor coalitions fighting climate change.

IIGCC   Climate Action 100+

 

 

 

Annual Report 2021

 

In our Annual Report we explain how we manage climate change risks and opportunities as recommended by the Task Force on Climate Related Financial Disclosures.

This may be a legal requirement in 2023, but we are happy to have been an early adopter.

Invest Picture 21

TCFD

The TCFD recommendations call for asset owners to disclose a weighted average carbon footprint. In 2020 the Fund's weighted average listed equity footprint was 146.2 tCO2e/£ revenue. This was 23.6% lower than in 2018 and 5.0% lower than that of the MSCI All Country World Index.                                                                                                      

 

J.P.Morgan Asset Management

The Fund's is an investor in the JP Morgan Infrastructure Investments Fund (IIF). The IIF has over USD 3 billion invested globally in renewable power generation, producing 4.8 GW of renewable energy capacity - enough to power 3.7 million homes for a year.

 

In September SPF was accepted as a 2021 signatory of the UK Stewardship Code which sets high standards of stewardship for those investing money on behalf of UK savers and pensioners. Strathclyde is one of only 23 asset owner signatories.

One third of applicants were unsuccessful.

UK Stewardship Code

 

 

Ahead of COP 26 in Glasgow, SPF became a signatory to the 2021 Global Investor Statement to Governments on the Climate Crisis

This statement, coordinated by the seven Founding Partners of The Investor Agenda, is signed by 733 investors representing over USD $52 trillion in assets.

It calls on all governments in 2021 to:

1.  Strengthen their NDCs

2.  Commit to a domestic mid-century, net-zero emissions target.

3. Implement domestic policies to deliver these targets, incentivize private investments in zero-emissions solutions and ensure ambitious pre-2030 action

4.  Ensure COVID-19 economic recovery plans support the transition to net-zero emissions

5.  Commit to implementing mandatory climate risk disclosure requirements aligned with the TCFD recommendations