‘Responsible investment for a Just Transition’ – LAPFF-backed inquiry is seeking your views
The All-Party Parliamentary Group for Local Authority Pension Funds has launched an inquiry into ‘Responsible investment for a just transition’ and has issued a call for evidence.
The inquiry is being led by the chair of the APPG, Clive Betts MP, with support from the Local Authority Pension Fund Forum. Its findings will be published ahead of the UN climate change conference in Glasgow in November 2021.
Climate change is a threat to lives and livelihoods, presenting systemic risks to the economy and financial markets and to our future prosperity. Shifting to a net zero economy has the potential to create new jobs and drive economic growth. However, the benefits may not be felt evenly with some employees and communities at risk of being left behind. This not only threatens to create economic hardship for some but also undermines support for the shift to net zero.
The focus is on the UK and the contribution that local authority pension funds and other institutional investors can make towards achieving a just transition. The inquiry will explore how the policies and practices of major investors can help decarbonise the economy in a way that protects beneficiaries and secures just transition to net zero.
Over the coming months, the APPG inquiry will be carrying out research and holding oral evidence sessions with experts and stakeholders. The Group would also like to hear your views and receive any evidence you may have on responsible investment for a just transition.
The APPG aims to publish its findings and recommendations in the Autumn and present them to Parliament, as well as to UN agencies, devolved and local government, business, investors, trade unions and other stakeholders.
The terms of reference of the inquiry, which includes specific questions that we are interested to hear your views on and where to submit evidence, can be accessed here.
The deadline for submissions is 30 April 2021.
A video of the launch on 20th January is available here and draft minutes can be viewed here. Slides from Katerina Szwarc (Grantham Research Institute on Climate Change and the Environment), Rachel McEwen (SSE PLC & Scottish Just Transition Commission) and Tom Harrington (GMPF and LAPFF executive) who gave presentations at the launch can be downloaded by clicking on their respective names.
The second evidence session took place on the 17 March and included presentations from Lord Deben, Chair of the Climate Change Committee and Polly Billington, Director of UK100. Minutes of the meeting can be viewed here.