Issue - meetings

Carbon transition update

Meeting: 11/09/2023 - Pension Fund Investment Sub-Committee (Item 4)

4 Carbon Transition Update pdf icon PDF 77 KB

Minutes:

Victoria Moffett (Lead Commissioner – Pensions and Investment) introduced the report, stating that it had been included to provide assurance that the Fund was committed to achieving carbon transition.

 

The Chair stated that the report was intended to make a clear public statement that the Sub-Committee recognised the risk of climate change and the need for decarbonisation. Often, it was necessary to discuss the relevant issues privately due to the need to maintain financial confidentiality. However, it was hoped that there would be opportunities in future to publicly demonstrate the Fund’s progress towards decarbonisation.

 

Councillor Millar highlighted that decarbonisation of the Fund was an area that attracted considerable public interest. She emphasised that the issue was treated with seriousness by the Sub-Committee.

 

Councillor Gifford agreed, stating that climate impacts were regularly discussed and treated as a priority. He emphasised the complexity of work in this area.

 

Resolved:

 

That the Pension Fund Investment Sub-Committee notes the report.