Investments: Climate change
Climate commitments
The Tyne and Wear Pension Fund commits to transitioning its investment portfolios to net-zero GHG emissions by 2050 or sooner and to the reduce emissions by 50% - 60% by 2030 based upon the 2019 baseline calculated in the carbon footprint analysis.
In addition, a reduction of 30% - 35% will be targeted by 2025 and reporting against these targets will be published annually.
The Fund also commits to undertake climate based financial risk assessments and to report the results as part of an annual Task Force for Climate Related Financial Disclosures (TCFD) Report.
In order to ensure that the Fund achieves its targets we will undertake an annual carbon footprint analysis and regularly report on the progress being made.
In addition, we will undertake a triennial review of the medium and long term targets to ensure that they remain appropriate and challenging, given the ever changing, economic, environmental and technological environment.
The review will look for opportunities to bring forward the Net Zero targets where this is considered reasonable.
The Fund also commits to working with other investors along with our Investment managers to promote the change necessary and to pursue efforts to limit the temperature increase to 1.5°C set out in the Paris Agreement. This includes our Pool Company, Border to Coast, who have made a similar commitment and we support their policy objectives.
The Pension Fund also commits to achieving net-zero GHG emissions on its own operations by 2030 in line with target set by South Tyneside Council who are the Administering Authority of the Fund.
View the Climate change policy