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TPT Retirement Solutions Maps out Net Zero Plan

UK-based workplace pension scheme TPT Retirement Solutions has published its climate action plan, initially targeting a minimum 25% reduction in portfolio carbon intensity by 2025. In the longer term, TPT aims to halve its Scopes 1-3 portfolio emissions by 2030, as well as committing to seeking positive change from 90% of financed emissions operating in high-emitting sectors and increase investments in corporate activities reducing emissions. “Businesses today are expected to operate – and invest – in a climate ambitious way,” said Cliff Speed, TPT Retirement Solutions’ CIO. “For us, this means taking an approach to managing our investment risks and opportunities on behalf of our members in line with our fiduciary duty.” The plan covers listed equities, corporate fixed income, sovereign bonds and real estate. It will be expanded to cover other asset classes once relevant data and credible net zero assessment methodologies become available. Speed said: “We continue to develop our ability to measure the carbon intensity of our investment portfolio, as well as ensuring our operational emissions are aligned with our net zero ambition. As part of our plan, we have enhanced our assessment of climate-related risks and opportunities, embedded scenario planning and adopted metrics and targets.”

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