Environment Agency Pension Fund (EAPF) is an Local Government Pension Scheme (LGPS) multi-employer Fund comprising of the employers – Environment Agency, Natural Resources Wales and Shared Services Connected Limited. Our Active and Closed Funds total 40,000 members and have total assets of £3.8 billion (31 December 2019).
We aim by 2020 to:
Invest 15 per cent of the fund in low carbon, energy efficient and other climate-mitigation opportunities. This will contribute to our wider target to invest at least 25 per cent of the Fund in clean and sustainable companies and funds, across all asset classes.
Decarbonise the equity portfolio, reducing our exposure to 'future emissions' by 90 per cent for coal and 50 per cent for oil and gas by 2020, compared to the exposure in our underlying benchmark as at 31 March 2015.
Support progress towards an orderly transition to a low-carbon economy through actively working with asset owners, fund managers, companies, academia, policy makers and others in the investment industry.
Actions that make net zero real
Transition Pathway Initiative (TPI) was launched in January 2017. TPI was conceived by and is co-Chaired by Environment Agency Pension Fund and the Church of England Pension Fund but developed in conjunction with the London School of Economics, FTSE-Russell and a group of other global asset owners. TPI has expanded hugely and is supported by over 40 major asset owners and asset managers globally. Since January 2017, TPI has assessed 200 companies across fourteen sectors with high CO2 emissions.
Initiatives we are part of
Through our memberships of organisation like PRI, IIGCC, LAPFF and other partnerships and our own pension officers we monitor current and emerging climate change issues. We also work with our investment advisor Mercer on emerging issues and on the short and long term impacts. Through this we then focus our involvement in initiatives on those areas that we identify as having the greatest risk/impact. CA100+ and Investor Decarbonisation Initiative are 2 of many initiatives in which we participate.
Mycroft Mind is a Czech high-tech company providing top-class advanced data analytics for IoT networks. With over 8 years on energy market and 15 billion smart meter data processed, we know how to help energy distributors, utilities, cities and manufacturers to face the emerging challenges of the information era. Our research and development activities also focus on preparing the right conditions to form energy communities.
Atlas Infrastructure is a specialist investment manager focusing on listed infrastructure securities. ATLAS specifically incorporates climate change and social factors in its company models through a purpose built scenario analysis. These factors directly impact our investment decisions.