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)