Border to Coast Pensions Partnership has joined a group of UK pension funds representing almost £400 billion in assets to address climate transition in emerging markets.
The group will explore how it can help deliver real change through making direct investments that support climate transition in emerging markets, while still supporting economic growth.
Border to Coast understands the crucial role of asset owners in supporting emerging economies to achieve their climate targets.
It has committed to better understand the needs of emerging economies and the kind of finance required by governments and companies and will work on how it may scale investments to support climate transition.
The group has received support from pensions minister Guy Opperman and will set out its plans at this year’s COP27 in Egypt.
The group is coordinated by the Church of England Pensions Board and other members include: Brunel Pension Partnership; BT Pension Fund; Environment Agency Pension Fund; Nest; Northern LGPS; Legal and General Mastertrust; Legal and General Workplace Pension Plan and Stakeholder Pension Plan; Railpen; Universities’ Superannuation Scheme; and West Yorkshire Pension Fund.