Environment Agency Pension Fund
Portfolio level
Portfolio level – Portfolio decarbonisation reference target
Baseline: 30 December 2010
Target Year(s): 2025, 2030, 2045
Target(s): tC02e absolute emissions scopes 1 & 2:
- 2025 = 35,318 (87% reduction)
- 2030 = 14,580 (95% reduction)
- 2045 = net zero
Baseline performance: 276,485 tC02e (absolute emissions, scopes 1 & 2)
GHG scopes included: Scope 1 & 2 for all equities. Scope 3 to be included in due course.
Asset classes in scope: The above reductions are for our listed equity portfolio. Across all asset classes, we have a target of halving emissions by 2030 and getting to net zero by 2045.
Portfolio level – Investment in climate solutions target
Target year: 2025
Target: 17% of our investments across the portfolio will directly tackle climate change by helping to reduce emissions or build resilience.
Baseline: No baseline – target is a relative % of total investments.
Methodology: Those assets in the FTSE Sustainable classifications of renewable & alternative energy and energy efficiency and those private market funds from our Targeted Opportunities Portfolio (TOP) which directly tackle climate change through providing lower carbon alternatives.
Asset level
Asset level – Portfolio coverage target
Approach: EAPF is currently undertaking a transition alignment analysis of its listed equity portfolio. Further to this, we will consider what further targets we may set and over which timescale.
Asset level – Engagement threshold target
Approach: The collective engagement baseline across the whole Brunel Pension Partnership is 47.3% of financed emissions. Further to the outcome of our transition alignment analysis, the EAPF will agree with the Brunel Pension Partnership on future engagement priorities and thresholds for action.
Additional information
Scenario(s) used: IPCC scenario decarbonisation curve consistent with a 1.5C scenario (2010 baseline).