We recognise the potential material effect of climate change, and the response to climate change on the assets and liabilities of the Fund.

Our climate strategy attached to this page sets out the Fund’s approach to addressing the risks and opportunities related to climate change. 

The Fund supports the ambitions of the Paris Agreement and aims to achieve a portfolio of assets with net zero carbon emissions by 2050. 

Targets which cover the whole investment portfolio are an important way of setting the direction and appropriate ambition for an investment strategy towards net zero, and to monitor whether that strategy is achieving expected outcomes.

In order to ensure that the Fund supports ‘real world’ emissions reductions, as well as seeking to reduce the carbon emissions of the Fund’s investment portfolio, we’ll seek to invest in climate solutions that contribute to the achievement of the net zero goal. 

We’re also taking steps to manage climate-related risks and incorporate climate risk management into investment processes, which is detailed in our climate-related disclosures report.  

We'll aim to:

  • reduce the carbon footprint (Scope 1 and 2) of the Fund’s listed equity portfolio by at least 60% relative to the weighted benchmark in 2020 by the end of 2030
  • invest at least 45% of the Fund portfolio in low carbon and sustainable investments by the end of 2030

Future reviews to the climate strategy will be subject to a period of consultation with the Fund’s stakeholders, which will be accessible through the Derbyshire County Council and Pension Fund websites.