UK asset owners urge government for increased climate action
Major UK asset owners including the BT pension scheme have called on the government to take increased climate action to protect investments and beneficiaries.
In two letters addressed to prime minister Boris Johnson and the secretary of transport Grant Shapps, the asset owners highlighted that climate change is recognised as the most significant global risk facing investors.
“It threatens their livelihoods, their retirement savings, their health, their quality of life. Even a short delay in implementing the necessary policies increases the likelihood of a disorderly transition, threatening beneficiaries’ savings and the resilience of the financial system,” they stated.
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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The London Fund secures one third of its £300m targeted offering
Further material commitments could see a second close in 2021 to bring the fund to capacity
The London Fund has completed its first close after securing £100m investment from the London Pensions Fund Authority towards its £300m targeted offering.
The London-focused investment fund - set up by Local Pensions Partnership (LPP) Investments, London CIV and the London Pensions Fund Authority (LPFA) - is set to focus on developing residential property and affordable housing as well as community regeneration, digital infrastructure, and clean energy to improve the quality of life for London communities.
By Susanna Rust2020-12-17T13:53:00+00:00
The London Pensions Fund Authority (LPFA) is investing £100m (€109m) in the London-focussed investment fund it and two local authority pension pools are launching.
London CIV has teamed up with Local Pensions Partnership (LPP) and LPFA to create the fund, which will focus on investment opportunities in the UK capital in residential property – specifically build-to-rent – and affordable housing, community regeneration, digital infrastructure, and clean energy.
The targeted offering for the fund – The London Fund – is £300m.
“Further material commitments from several London CIV client funds could see a second close in 2021 to bring the fund to capacity,” the fund partners said in an announcement.