ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with the Border to Coast Pensions Partnership appointing a climate change consultant, and Kempen Capital Management setting a carbon emissions goal for its portfolios.
Border to Coast picks climate change adviser
The £34.6bn Border to Coast Pensions Partnership, which handles the assets of 11 Local Government Pension Scheme funds worth a collective £55bn, has appointed a climate change consultant. BCPP has selected Ernst & Young to provide the pool with climate change consultancy services in support of its net zero commitment. The consultant will help determine objectives and targets for the asset classes the pool holds in its portfolio now and expects to manage in the future, alongside guidance and support in respect of services that include a detailed review of climate-related metrics, and selection and implementation of a science-based decarbonisation pathway.
This article originally appeared on MandateWire.com
Kempen to cut portfolio carbon emissions to 7 per cent
Kempen Capital Management has announced that all portfolios under its direct management will be run with the aim of slashing their carbon emissions by 7 per cent every year until 2030. Over 2021, the asset manager reduced the level of its total financed carbon emissions to 2.1mn tonnes of CO2e from 3.4mn in the prior year, as the coverage of its assets subject to carbon footprint analysis widened. Kempen referenced Russia’s invasion of Ukraine, emphasising that the conflict stressed “the urgency of the global energy transition”. It said that “in the coming months and years, becoming less dependent on fossil fuels from a climate perspective will go hand in hand with becoming less dependent on fossil fuels from a geopolitical perspective”.
