Financial services

London Pension Funds Authority

LPFA is the largest local government pension provider that sees the benefits of long term sustainability and environmental resilience.
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Certified
3 years

Financial services sustainability London

Highlights

Measure

Absolute carbon reduction

Reporting Boundary: Head Office (169 Union
Street, London, SE1 0LL)

Emission Sources: Electricity, Transmission and Distribution Losses, Natural Gas, Water, and
Business Travel

Reporting Period: 01 Apr 2021 – 31 Mar 2022

-39.0%

Carbon reduction per employee

-67.6%

Location-based total carbon footprint

10.5 tC0₂e

Location-based total carbon footprint per employee

0.7 tC0₂e

Market-based total carbon footprint

4.0 tC0₂e

Market-based total carbon footprint per employee

0.3 tC0₂e

Engage

FTE employees

We engage our employees and wider stakeholders to unlock their talent and knowledge to drive year on year progress in sustainability.

15

Communicate

UN Sustainable Development Goals

We recognise that transparent communication is essential for transformational change and we quantifiably contribute to 9 SDG.

9

Certification story

The London Pensions Fund Authority (LPFA), the largest local government pension provider in London responsible for the pension provision for around 19,489 employees, has achieved the Planet Mark. 


Understanding and measuring its carbon footprint is the first step in identifying ways to minimise its impact on the planet. Achieving Planet Mark is based on the commitment to continuous improvement in sustainability in its business operations by measuring and reducing its carbon footprint and engaging its stakeholders. 

The Board of the LPFA also recognises that having, and adhering to, an environmental policy is sound operational business practice. It demonstrates that the organisation is committed to the wellbeing of our environment and society, both now and in the future. In addition to its pledge to reduce carbon, LPFA has a long-standing commitment to responsible investment (RI). Its proactive approach to addressing environmental, social and governance (ESG) issues in its investment policies has been developed over several years and continues to evolve. LFPA has committed to not considering new active investments in fossil fuel companies that ignore the risks of climate change. It is also making all reasonable efforts to divest, provided that this will result in no material financial detriment to its clients. 

By being more strategic about its environmental responsibility, the company will be able to significantly increase its positive impact and hope to encourage continual improvements within its community.  

Steve Malkin
Founder and CEO
Planet Mark
“Congratulations to London Pensions Fund Authority on achieving its second year of Planet Mark certification. From its investments to its business practices, LPFA is turning words in action and making sure that the whole organisation is fit to face our changing future. I am looking forward to continuing our partnership and helping reduce their operational emissions, and help walk to path to a sustainable future together.”
Peter Ballard
LPFA’s Director of Risk and Funding
London Pensions Fund Authority
“The impacts of climate change – from flooding and sea level rises to wildfires and droughts – poses a material risk to society, business, and so to our investments and indeed the investments of all pensions funds. As a responsible investor, it’s our duty to mitigate climate change risks to ensure the fund stays financially healthy and can pay our members their pensions in the future. Consequently, we made significant progress decarbonizing our investment portfolio following the introduction of our climate change policy in 2017.”

Peter added “In September 2021 we also announced our ambitions to be a net zero fund by 2050 and we’ll be publishing our net zero action plan in 2022. We are delighted to be reaccredited by Planet Mark as the accreditation process ensures that our daily operations and our suppliers are aligned with our net zero investment aspirations.”  

The financial services sector has an important role to play in the transition to a low-carbon economy. COP26 was another signifier of the importance of funds and investment in sustainable action, with many global commitments being made to finance sustainable activity. Funds and investors must pay attention, and seek to ensure the sustainability of portfolios, not only to boost resilience in the face of a green transition but to attract the business of forward-think investors.   

Future targets

Reduce carbon emissions by at least 2.5% each year

To recertify next year London Pension Funds Authority must reduce emissions by 2.5%.

Aim to reduce carbon emissions by 5% each year

A 5% year-on-year reduction is the target reduction recommended by Planet Mark.

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