LAPFF led investor group call for vote on climate transition plans
Author: LAPF Investments | Published: September 30, 2026
A Local Authority Pension Fund Forum (LAPFF) and CCLA-led group has written to FTSE100 companies to ask them to put their climate transition plans to an advisory shareholder vote at least once every three years.
The group, made up of 62 global investors, the initiative aims to improve transparency, and shareholder accountability, and promote constructive dialogue giving boards a clear understanding of investor support for their company’s transition strategy.
Additionally, disclosure of a robust transition plan helps demonstrate how climate-related risks and opportunities are being integrated into business strategy and capital allocation.
CCLA better environment lead Tessa Younger said: “Paradoxically, while this is now the sixth year that FTSE 100 companies have been asked to offer shareholders a vote on climate transition plans, the number doing so has declined since 2023.
“This is against the backdrop of an increasingly evident climate crisis and growing investor support for stronger shareholder accountability on climate transition planning. Investors recognise that a credible transition strategy is fundamental to long-term value and resilience, and an essential driver of future performance.”
Last year, the investor group supporting the letter represented £3.1tn in AUM whereas this year, there are a greater number of investors and the supporting AUM increased by just over 22%.
LAPFF chair councillor Doug McMurdo said: “This year has brought home the real and mounting cost of climate change to the UK economy, from severe impacts on agricultural production to the billions of pounds lost as a result of extreme heat. These costs are hitting companies, investors, and communities.
“Shareholders should have a direct say on the plans that will shape business resilience and long-term value. As local authority pension funds, we know these decisions affect sustainable returns that help provide pensions for millions of people across the UK now and in the future.
“Companies must give shareholders clarity on how they intend to shore up their business models, alongside an opportunity to provide feedback and support.”
In 2025, investors wrote to 95 companies in the FTSE100 and received 71 responses. Eight companies committed to holding such a vote, five of which noted this would be on a triennial basis. A further six explained they were keeping the option of holding a vote under review.
