UK long-term savings and retirement business Phoenix Group has joined the Transition Pathway Initiative (TPI) as a new board member. By joining the board, Phoenix has committed to using the TPI tool – a corporate climate action benchmark that assesses how prepared companies are for the transition to a low-carbon economy – and its findings on how prepared companies are for the transition to a low carbon economy, within its decision-making. The addition of Phoenix means the assets under management and advice of TPI’s investor supporters has reached US$50 trillion, with the board comprising of asset owners from Europe, the US and Australasia. Adam Matthews, Chair of TPI and the Church of England Pensions Board’s Chief Responsible Investment Officer, said: “We are thrilled to welcome The Phoenix Group as the Transition Pathway initiative’s latest investor supporter. As long-term stewards of capital, cognisant of the risks and opportunities presented by the low carbon transition, Phoenix Group is a natural addition to the TPI Board and we welcome their backing and insights.”
We have joined the @tp_initiative as a new board member, demonstrating our dedication to making informed decisions in the transition to a low carbon economy.
We are thrilled to join this initiative and bring our insights and expertise to the table. https://t.co/A4Xs7lLts7 pic.twitter.com/DQNJhGYNkg
— Phoenix Group (@PhoenixGroupUK) February 7, 2023