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
This may be a legal requirement in 2023, but we are happy to have been an early adopter.
The environmental impact of this each year is:
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.
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