PPF Releases its 3rd TCFD Report

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by KnowESG
KnowESG_PPF Releases its 3rd TCFD Report
Image courtesy of PPF

The Pension Protection Fund (PPF) has released its third annual Climate Change Report, unveiling insights into climate-related risks and opportunities integrated into its investment strategy.

The primary objective of the report is to enhance transparency regarding climate-related financial information. This involves the disclosure of potential risks and advantages associated with escalating temperatures, climate-linked policies, and emerging technologies in our ever-evolving world.

Claire Curtin, the Head of ESG and Sustainability, remarked, "Addressing the challenges and prospects stemming from climate change stands as a cornerstone of our responsible investment and organisational aspirations.

"We firmly believe that weaving sustainability into the fabric of our operations is pivotal in tackling some of the substantial ESG risks that confront us. Our Climate Change Report serves to elucidate our strategic approach and underscores the PPF's commitment to wield its influence for the greater good."

The report meticulously outlines the PPF's advancements in securing more robust disclosure from issuers, extending climate management beyond publicly listed equities, and fostering greater harmony with the objectives of the Paris Agreement.

Noteworthy achievements include 84 per cent of the entities within the PPF's Climate Watchlist now providing data on carbon emissions, along with 37 per cent of private companies submitting ESG data via a pioneering Private Markets ESG reporting initiative.

In a recent development, the PPF unveiled its sustainability strategy, a comprehensive framework encompassing responsible investment practices, Diversity & Inclusion initiatives, community impact projects, and measures to curtail its own operational footprints. This strategy is rooted in the Five Capitals sustainability framework, the PPF's core values, and an assessment of the most critical ESG risks in its operational capacity.

Claire Curtin further elaborated, saying, "We have set ambitious benchmarks for ourselves in the realms of climate change and responsible investment. Our objective is to achieve Net Zero for our operations by 2035, if not earlier.

As for our investments, we are dedicated to contributing to the global shift towards Net Zero through our investment portfolio and proactive engagement endeavours. Over the past couple of years, we have systematically gathered climate assessments across every investment within the Fund. This approach allows us to gauge how closely the Fund's stance aligns with the principles of Net Zero and the Paris Agreement. We have continually refined this process to incorporate new methodologies for diverse asset classes and adaptations in our portfolios."

In 2022, the PPF garnered recognition for its unwavering commitment to becoming a trailblazing, responsible investor. This acknowledgement stems from the significant strides it has taken to augment access to ESG-related data, propel ESG practices among external managers, and foster opportunities for deploying capital with positive social and environmental impacts.

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Source: PPF

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