Magazine article Public Finance

Council Pension Funds Call for Far Tougher CO2 Targets

Magazine article Public Finance

Council Pension Funds Call for Far Tougher CO2 Targets

Article excerpt

Public sector pension funds are using their hefty financial clout to lobby for changes to the government's draft Climate Change Bill, claiming that ministers are not doing enough to cut CO2 emissions.

The Local Authority Pension Fund Forum, which represents 40 public sector retirement funds worth a combined £75bn, wants a tougher target for reducing national CO2 emissions by 2050.

Instead of 60%, the LAPFF wants an 80% target, which it claims is in line with recent studies on the damaging nature of carbon emissions, such as the Stern Review. The forum also notes that MPs on the select committee for environmental audit have called on the government to go further.

'Although the forum is fully supportive of the establishment of long-term targets, we consider that the 60% target for emissions reduction by 2050 does not reflect the current consensus,' a briefing note states.

The LAPFF is also pushing the companies they invest in to adopt strict environmental commitments. …

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