06.06.17
LAPFF enters new partnership to improve engagement on climate risk
A new partnership between the Local Authority Pension Fund Forum (LAPFF) and the 50/50 Climate Change Project has been announced today in an effort to drive the fund’s engagement with companies on green issues and climate risk.
The Climate Change Project works with 50 of the largest public companies and pension funds with large carbon footprints to ensure boards are “climate competent” and that collective investor action advocates better climate strategies and decision-making.
It is hoped that the move will enhance LAPFF’s position as a leading investor voice on climate change risk by “ratchetting up” its engagement with companies on climate risks and the potential impact on shareholder value.
The Project has already secured proxy access for shareholder promoted director candidates, and a resolution for the appointment of a climate expert on the board was supported by 21% of shareholders.
“The Forum is delighted to be teaming up with the 50/50 Climate Project,” said Cllr Kieran Quinn, chairman of the LAPFF. “Recent weeks have shown the power shareholders can exert on companies to take seriously the risks posed by climate change.
“Coming on the back on these successes and several years of effective collaborations, this partnership marks a new era in the Forum’s efforts to safeguard shareholder value against climate-change risk.”
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