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Climate Change Risk

The Fund recognises that, in addition to the wider impacts of climate change, owning investment assets with a high carbon footprint, poses a particular potential investment risk. The Fund wishes to actively manage this risk and has therefore committed to annually commissioning an independent assessment of all its publicly listed investment assets to determine the Fund’s overall carbon footprint and assess potential climate change impacts and opportunities. In 2020 the Fund published the results of this assessment in its first Climate Risk report, using the framework recommended by the Task Force on Climate Related Financial Disclosures (TCFD). The Fund’s second annual Climate Risk report is now published and this provides an update on the Fund’s progress against its climate change targets as well describing the broader steps the Fund is taking to manage climate-related risks and incorporate climate risk management into its investment processes.

Full 2021 TCFD report (2,101 KB)

Full 2020 TCFD report (1,773 KB)

A short summary of the key points in the Cheshire Pension Fund’s 2020 TCFD report is also provided:

Summary of TCFD report (213 KB)

A media release to accompany the publication of the Fund’s 2020 TCFD compliant Climate Risk report can be found below:

Media release (94 KB)

 

Climate Change Strategy

Following publication of the above Climate Risk report in September 2020, the Fund is now publishing its Climate Change Strategy document. The publication of a stand-alone Climate Strategy document recognises the importance of the issue and draws together all of the Fund’s climate related policies, statements and targets into one consolidated document. The Climate Strategy was endorsed by the Cheshire Pension Fund Committee on 4 December 2020 and a link is provided below:

Climate Change Strategy – December 2020 (PDF 902 KB)

The media release to accompany the publication of the Climate Change Strategy is provided below:

Media Release (104 KB)