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Pension-owned Infrastructure Fund Adopts Net Zero Framework

UK-based specialist investment fund GLIL Infrastructure has adopted the Net Zero Investment Management Framework (NZIM) to support its net zero ambitions. The NZIM was launched by the Institutional Investors Group on Climate Change (IIGCC) last year, and sets out clear methodologies and approaches for investors to align their portfolios with the Paris Agreement. GLIL is one of the first investors to adopt the NZIM guidance for infrastructure, which builds on the broader NZIM framework. GLIL said adopting the guidance would help it enhance its work on the energy transition by providing a consistent framework and further support to existing portfolio companies in their efforts to achieve net zero. “The NZIM framework will allow infrastructure investors to bring further substance to their net zero ambitions in a sector where it has been largely lacking,” said Beth Breen, ESG Analyst at GLIL Infrastructure. “Our adoption of this new framework aligns with our members’ commitment to driving the energy transition towards a sustainable net zero economy.” GLIL is a partnership of UK pension funds managing £3.6 billion (US$4.5 billion) of committed capital, with more than £3 billion deployed into a portfolio of infrastructure assets spanning renewable energy, battery storage, regulated utilities, ports and logistics, trains, hospitals, and schools. The fund’s latest investment was in a portfolio of 247 megawatt (MW) of operational UK solar assets.

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