London CIV publishes 2022 TCFD Report

London CIV has published its Task Force on Climate-related Financial Disclosures (TCFD) report.

LCIV’s responsible investment manager, Gustave Loriot said: “This year, we’ve made great leaps towards our responsible investment milestones, particularly on climate.

“Most notably in October 2021 when London CIV committed to net zero GHG emissions by 2040, becoming the first Local Authority pension pool to do so.”

Other highlights were the launch of three climate-focused products in 2021: the LCIV Renewable Infrastructure Fund, the LCIV Global Alpha Growth Paris Aligned Fund, and the LCIV Passive Equity Progressive Paris-Aligned Fund (PEPPA).

“Ambition and rhetoric must result in action, which is why we do not view this report as an endpoint,” said Loriot.

“Rather, we consider the adoption of effective climate risk management, comprehensive governance processes and techniques such as scenario analysis to be as integral to the implementation of the TCFD recommendations as the disclosures themselves.

“This report therefore serves as a useful framework to describe our journey towards improving the resilience of our funds to climate-related risks. We will continue to prioritise climate change issues at London CIV and aim for improved disclosure in the next reporting year.”