Local Government Pension Scheme (LGPS) Central has announced its commitment to transition its investment portfolios to net zero greenhouse gas emissions by 2050.
LGPS Central, which manages the pooled assets of eight Midlands-based LGPS funds worth around £49 billion, has also set an interim target of a 50% reduction in emissions by 2030.
It intends to provide “additional focus and transparency” to its response to the current climate emergency and will initially focus on Listed Equities, Corporate Bonds, Sovereign Bonds and Real Estate.
It has also committed to provide investment opportunities in the renewable energy and green tech sectors to match its partner fund’s demands.
Patrick O’Hara, Director of Responsible Investment & Engagement said: “This commitment provides us with a set of measurable targets, a common focus and renewed momentum for our climate strategy and associated engagements. We look forward to playing our part as responsible corporate owners in driving the transition to a low carbon economy.”