We’ve published our Climate change report

We've published our Climate change report for the third year in a row, disclosing our climate-related risks and opportunities and highlighting key areas of progress.  

The TCFD recommendations 

The Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) aims to improve and increase reporting of climate-related financial information. As a supporter of the TCFD, we understand that financial markets need clear information on the impacts of climate change - producing our report to further the transparency of climate-related financial information.  

We’ve used the TCFD recommendations as a guide to disclosing the risks and opportunities arising from climate change that have an impact on us. The report is structured around four areas: governance, strategy, risk management, and metrics and targets.  

Addressing climate risks and opportunities  

Addressing these risks and opportunities is central to achieving our responsible investment and organisational goals. The report identifies some of the progress we’ve made, including:

• Maintaining our signatory status under the FRC’s UK Stewardship Code 2020
• Creating a new Climate Watchlist to address the companies contributing to over 70% of our material financed emissions
• Developing targeted engagement action plans for each company on the Climate Watchlist
• Obtaining valuable ESG and climate disclosures from our Private Markets managers participating in the eFront ESG Outreach pilot project

Claire Curtin, Head of ESG and Sustainability, said: “Addressing the risks and opportunities arising from climate change is key to our responsible investment and organisational goals. We believe placing sustainability at the heart of our activities is essential to mitigating some of the material ESG risks we face. Our Climate Change report helps to build understanding of our strategy and demonstrates how the PPF is trying to use its influence as a force for good.” 

“We have set ourselves high standards on climate change and responsible investment. Our target is to reach Net Zero for our operations by 2035 or sooner. For our investments, we seek to contribute to the global transition to Net Zero through our portfolio and engagement activities. In the past two years, we’ve gathered climate assessments across every investment in the Fund so we can see how the Fund’s position aligns to Net Zero and the Paris Agreement. We’ve continually evolved this to reflect new methodologies for different asset classes and changes in our portfolios.” 

Find out more in the full report.