Have your say on pension fund’s investment plans
3 March 2020
The impact of climate change plays a key role in a consultation about a pension fund’s investments on behalf of more than 100,000 Cheshire members.
The Cheshire Pension Fund has launched its new investment strategy and responsible investment policy and is asking scheme members and employers for their views.
The new document places the consideration of the financial risks of climate change at the heart of the fund’s investment considerations and commits the fund to identify and manage the associated financial risks.
The fund will also explore the investment opportunities that become available as the world moves to a low carbon economy.
This approach was reflected in the recent decision of the Fund to invest more than £500 million in a new climate factor fund, which aims to invest more in companies creating green technologies to combat climate change.
Councillor Myles Hogg, chairman of the Cheshire Pension Fund, said: “Our new investment strategy and responsible investment policy confirms that the fund’s priority is its financial duty to pay the pensions of our 100,000 members.
“This is best achieved by the proper management of risks and, in particular, of the financial risks presented by climate change.
“The fund has already commissioned an independent assessment of the carbon footprint of its investment portfolio and will now produce an annual stewardship plan setting out potential climate change impacts and opportunities.
“I believe the approach of the fund to climate change will complement the climate emergency declarations made by all four councils in Cheshire and support their plans to lead the transition to a net nil-carbon position in their boroughs.”
The Cheshire Pension Fund is the pension scheme for more than 100,000 members across 300 employers, including Cheshire East Council, Cheshire West and Chester, Halton and Warrington councils, Cheshire police and Cheshire Fire and Rescue Service and a range of other employers in Cheshire.
The fund is administered by Cheshire West and Chester Council.
For more information and to respond to the consultation visit: www.cheshirepensionfund.org and search for ‘investment strategy statement’ in the members' section.