William Eichler 13 October 2023

Local authority pension schemes invest £330m in renewables

Local authority pension schemes invest £330m in renewables image
Image: docstockmedia / Shutterstock.com.

Six local authority pension schemes have agreed a multi-million-pound deal to invest in renewables projects in the southwest.

The £330m commitment with Schroders Greencoat, the specialist renewables manager of Schroders Capital, will see the Local Government Pension Schemes (LGPS) – part of the Brunel Pension Partnership – investing in renewable infrastructure and energy.

The investment is targeted in the counties of Dorset, Somerset, Avon, Cornwall, Devon, Wiltshire, Oxfordshire, Buckinghamshire and Gloucestershire.

Jennifer Devine, head of Wiltshire Pension Fund representing the fund’s LGPS partners, said: ‘We are thrilled to be involved in this collaboration with other LGPS funds. Together we can use our scale to make a substantial, widespread positive impact, actively investing in and benefiting from the transition to a low carbon economy.

‘To be able to deliver this impact across the southwest and support business and societies in greening their grid is fantastic. We’re delighted to be working with Schroders Greencoat again and levelling up our impact across the region.’

If this article was of interest, then check out our feature, 'Navigating the great LGPS investment reset'.

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