The London Pension Fund Authority (LPFA) has updated its climate change policy to reflect that climate change and biodiversity loss need to be tackled together. The new policy aims to identify managers focused on both biodiversity loss and natural capital depletion – “a twin mirror to tackle climate change”, according to Paul Hewitt, Responsible Investment Manager at LPFA. “It is also reflective of an evolution in the general debate around climate, and of the fact that climate and nature are effectively two sides of the same coin,” he added. “For that reason, we want to underline this in our climate change policy.” Published in December, the new policy outlines fossil fuel exclusions and includes a measure to encourage exposure to green technology – including renewable energy, energy distribution, energy efficiency, electric vehicles and associated infrastructure, as well as natural carbon capture solutions.
