The London Pensions Fund Authority (LPFA), the largest local government pension provider in London responsible for the pension provision for around 19,489 employees, has achieved certification to The Planet Mark.
This is LPFA’s first year of business carbon footprint reporting and certification to The Planet Mark. This year LPFA has calculated the carbon footprint of their London office operations for the year ending March 2020 and set a target to reduce emissions by 5% annually.
LPFA’s total carbon footprint for the year ending March 2020 was 7.4 tCO2e and the relative carbon footprint was 3.0 tCO2e per employee.
LPFA will save the carbon equivalent of burning 185kg of coal if they are able to achieve their carbon reduction target.
Steve Malkin, Founder and CEO of The Planet Mark, commented: “It’s with great pleasure that I welcome LPFA to The Planet Mark community. The organisation has already made big steps in seeking to divest from environmentally damaging investments, and I’m pleased to see them combine this with an effort to reduce their carbon footprint closer to home. LPFA’s forward-thinking mentality is commendable and will reap environmental and financial benefits for their customers. I look forward to working on the next steps of the path toward sustainability with them.”
In addition to their pledge to reduce carbon, LPFA has a long-standing commitment to responsible investment (RI). Its proactive approach to addressing environmental, social and governance (ESG) issues in our investment polices has been developed over several years and continues to evolve. LFPA has committed to not considering new active investments in fossil fuel companies which ignore the risks of climate change. It is also making all reasonable efforts to divest, provided that this will result in no material financial detriment to its clients.
It is time for finance to back the transition to a sustainable, resilient future for all. Sustainable finance represents a significant commercial opportunity as well as a chance to act positively for the planet. But positive change must start within a business. Demonstrating a business’ own environmental credentials is an integral part to a mature sustainability offering for customers. To properly engage with this emerging market, companies working in finance must establish a rigorous sustainability policy.
CERTIFIED YEAR 1
This is to certify that London Pensions Fund Authority has achieved a reduction in its carbon footprint and is committed to continous improvement in sustainability.
Valid to 30 June 2021
Sir Tim Smit KBE
3.0 tCO2e carbon footprint per employee
7.4 tCO2e total carbon footprint
We are committed to reducing our carbon emmissions yearly so that together, we can all halt climate change
2.4 FTE employees
We engage our employees and wider stakeholders to unlock their talent and knowledge to drive year on year progress in sustainability.
We recognise that transparent communication is essential for transformational change and we quantifiably report on
5 SUSTAINABLE DEVELOPMENT GOALS