Our Pensions and Investments Committee recognises that material climate change risks and opportunities could be experienced across the whole of the fund's investment portfolio. Climate change is also likely to impact the fund's liabilities.

The risks

The committee consider climate-related risks alongside all the other risks which the fund is exposed to. These risks include:

  • demographic
  • regulatory
  • governance
  • administration
  • financial

Climate-related disclosures report

We've published a climate-related disclosures report using the framework recommended by the Task Force on Climate-related Financial Disclosures. The report describes and communicates the steps our fund is taking to manage climate-related risks and incorporate climate risk management into investment processes.

Our latest climate-related financial disclosures report is attached to this page.