Targets include:
Having achieved Net Zero for Scope 1 and 2 for its direct operations, the Fund will aim to reach Net Zero in its operational supply chain and travel emissions by 2035 or sooner.
Contributing to the global transition to Net Zero through its investment portfolio and engagement activities.
Year-on-year, achieving an increase in representation across all under-represented groups.
Ensuring that at least 500 days are volunteered across the organisation to support initiatives identified in sustainability strategy.
PPF will report on the progress made against its 23/24 KPIs on its website.
The Pension Protection Fund (PPF) has today published its new sustainability strategy, with an ambition to help “catalyse the growth of a more sustainable pensions industry.”
The Fund – which protects 10 million DB scheme members in the UK – has created a holistic sustainability strategy which brings together key elements of the way it approaches Responsible Investment, Diversity & Inclusion and community impact. The strategy is underpinned by the Five Capitals framework for sustainability, the PPF’s organisational values and an assessment of its most material ESG risks as a business.
Kate Jones, PPF Chair, said: “As climate change, social inequality, and corporate purpose receive unprecedented global attention, it’s important that we consider material ESG risk and opportunities not only in our investment decisions, but also across all our activities and decisions as a business. We believe that by embedding sustainability in our business model, we will enhance value for our stakeholders and surrounding communities.
“We are proud to launch our first sustainability strategy today which sets out four key outcomes-focused sustainability goals for our organisation in areas we believe we can make a real difference. Our ambition is to catalyse the growth of a more sustainable pensions industry and lead by example by moving the needle on Diversity & Inclusion and playing an active role in the communities we work in.”
PPF’s four sustainability goals are to demonstrate excellence in responsible investment, ensure effective stakeholder engagement with integrity and respect, champion collaboration and leading by example, and be accountable for minimising its own environmental impacts.
The goals include quantifiable targets, such as ensuring at least 80 per cent of companies in its Climate Watchlist for public markets investments are providing valuable disclosures on Scope 1 and 2 emissions. The Fund originally built its Responsible Investment strategy to enhance the long-term value of its investments by managing environmental, social and governance (ESG) risks and seizing opportunities.
Kate Jones added: “We recognise that by far the greatest impact of the PPF lies within our investment portfolio. As a major part of our sustainability strategy, we will continue to incorporate ESG and climate-related risks and opportunities into our investment process and stewardship activities, striving to demonstrate excellence in responsible investment. We will also leverage opportunities to collaborate and lead by example within the pension fund and asset management communities.”
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