At the Shropshire County Pension Fund (“the Fund”) Committee meeting on Monday 17 January 2022 Pension Committee Members agreed that the fund would target net zero emissions by 2050 or sooner.
Councillor Thomas Biggins, Chair of Shropshire Council’s Pension Committee, said:
“Pension Committee Members agreed that targeting net zero would have the greatest overall impact on real world emissions, de-carbonising the investment strategy, managing climate risk and ensuring the fund keeps pace with the transition to the low carbon economy. This is because net-zero is an all-encompassing target that considers scope 1, 2 and when possible scope 3 emissions from all companies, regardless of sector. Noting that only 13% of the fund’s total equity carbon footprint is attributable to holdings in energy stocks, with companies in the industrials, materials and utilities sectors contributing 68% (based on analysis from the fund’s 2021 Climate Risk Report).
Source