Our sustainable investments.

Sustainable investments are a key part of the Scheme’s investment strategy and our journey to net zero. They provide long-term value and reduce risk in the Scheme, helping us protect members’ pensions. But they also strive to have a positive impact on the world and help us reduce the Scheme’s greenhouse gas emissions. We’ve shared more details about some of our current sustainable investments below.

Greencoat Solar II LP

Greencoat’s solar business acquires and manages ground mount solar assets in the UK. Each solar farm has a life span of over 25 years and preserves natural habitats through hedgerow and tree planting, placement of bat and bird boxes, and animal grazing from neighbours.

  • In 2020, Greencoat acquired 28 operating solar PV assets adding a further 224MW to its renewable power generation capacity
  • As at 31 December 2021, Greencoat owned 123 solar farms, managing 912GWh of net generaton capacity.
  • In 2021 alone, Greencoat's solar farms saved 365,000 tonnes of CO2 from entering the atmosphere, and generated energy equivalent to powering 315,000 homes.

Legal & General Investment Management – Future World Global Equity Index Fund

At the start of 2021 the Trustee began the process of transferring all of the Scheme’s equity assets into LGIM’s Future World Global Equity Index Fund.

This fund rewards companies exhibiting strong ESG credentials by giving them a higher weighting in the portfolio.

In 2021 LGIM introduced a new “temperature alignment” metric as part of the process behind constructing the portfolio. The Trustee welcomed this enhancement as a way of better capturing climate-related risks and opportunities in a forward-looking manner within the fund.

Alvarium Home Long Income Fund

Alvarium Home Long Income Fund (HLIF) works with Local Authorities and invests in high quality accommodation for the homeless. Individuals housed through the scheme are given training and rehabilitation to provide the skills and confidence to find long-term accommodation and re-integrate into society.

So far HLIF has:

  • Provided 2,394 beds to otherwise homeless individuals.
  • Supplied over 1,200 homeless individuals with safe, clean and modern accommodation in North West England alone.