A group of 12 leading UK pension funds, including BT Pension Fund and Legal and General Mastertrust, and convened by the Church of England Pensions Board, representing £400bn assets under management and working on behalf of over 18 million members, will jointly consider how to support the climate transition in emerging markets.

The 12 funds include some of the largest in the UK including, Universities’ Superannuation Scheme, BT Pension Fund, Railpen, Brunel Pension Partnership, Border to Coast Pension Partnership, Nest and Legal & General Workplace Pension Plan and Stakeholder Pension Plan.

The intervention was agreed following an investor roundtable hosted by the Church of England Pensions Board with the Minister for Pensions and Financial Inclusion, Guy Opperman, in the context of the UK’s COP26 Presidency of the United Nations Climate Change Conference. Ahead of COP27 in Egypt, the group plan to set out the steps they intend to take in line with their respective investment strategies.

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