Climate Change Strategy updated for 2024

Shropshire County Pension Fund agreed its latest Climate Change Strategy at Pensions Committee on 13 September 2024. The strategy explains the fund’s approach to addressing the risks and opportunities related to climate change.

The updated version builds on objectives set out in the previous strategy, published in 2021, and is seen as a development based on the availability of data to allow accurate and reliable reporting. The fund is pleased to announce that following the improvements in data availability, it is now able to set formal monitoring targets for the first time as well as continuing its pledge to be Net Zero by 2050 at the latest.

The targets are in line with the targets of our pooling company, LGPS Central Limited, and demonstrate the importance of a joined-up approach in our journey to net zero. The strategy also sets out the aspirations of the fund to be able to report climate data on private market investments to give a fully transparent overview of the carbon emissions connected to our investments by 2026.

The strategy, whilst prepared for three years, will continue to be reviewed annually by officers so that the fund can be dynamic in addressing future changes. The strategy is available to view on the fund’s website.