William Eichler 20 January 2021

Inquiry launched into role of local authority pension funds in fighting climate change

Inquiry launched into role of local authority pension funds in fighting climate change image

A parliamentary group has launched an inquiry into how institutional investors such as local authority pension funds can help drive a ‘just transition’ to a net zero economy.

The Government is committed in law to transition the UK to net zero carbon emissions by 2050 as part of the struggle against climate change.

The All Party Parliamentary Group for Local Authority Pension Funds today announced the launch of its inquiry to investigate what local authority pension funds and other investors can do to ensure that no one is left out during the transition.

‘The move to a decarbonised economy will be felt by every constituency across the country,’ said chair of the inquiry Clive Betts MP.

‘This inquiry provides a timely opportunity to open up a debate with stakeholders and parliament about what this means for communities and workers and how we can manage this transition in a just way.’

The inquiry into ‘Responsible Investment for a Just Transition’ will examine how the policies and practices of pension funds can contribute towards a decarbonised, sustainable economy in a way that protects beneficiaries and secures the future and livelihoods of workers and their communities.

Doug McMurdo, chair of the Local Authority Pension Fund Forum, commented: ‘Climate change is now widely recognised and accepted by governments, companies and investors as one of largest threats that we face as a global society.

‘However, despite this recognition, there has been little focus on what decarbonising our economy means for employees and communities. This urgently needs to be addressed so that we don’t take two steps forward towards a decarbonised economy via new technology and environmental regulation, but one step back because we have ignored the social dimension of tackling climate change.’

SIGN UP
For your free daily news bulletin
Highways jobs

Director of Public Health

Royal Borough of Greenwich
Up to £131,210
The Public Health department is at the heart of the council’s business. Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Head of Regeneration and Growth

Plymouth City Council
£68,387 - £74,411 (MFS and relocation available, pay award pending)
This is a unique opportunity to lead our award-winning development team and directly deliver hundreds of millions of pounds of projects. Plymouth, Devon
Recuriter: Plymouth City Council

Director of Adult Social Care

Wiltshire Council
£119,390 - £127,137
Join us as the Director of Adult Social Care and make a real difference to people’s lives. Wiltshire
Recuriter: Wiltshire Council

Assistant Director Planning, Performance & Engagement

East Sussex County Council
up to £97,700
With strong local communities, unspoilt countryside and vibrant coastal towns, East Sussex offers an exceptional quality of life to many. East Sussex
Recuriter: East Sussex County Council

Director of Finance & Commerce

Lancashire County Council
Up to £114,339
You will play a critical role in driving the organisation through complex change and innovation. Lancashire
Recuriter: Lancashire County Council
Linkedin Banner