Developing And Delivering A Market-Leading Climate Policy
In 2020, Brunel Pension Partnership asked Chronos to support on the drafting of its Climate Policy, a first-of-its-kind climate policy for an asset owner built around a five-point plan to encourage systemic change in the investment industry.
Brunel is a £30bn LGPS pension pool in the UK and is widely regarded as a leader in responsible investment.
The policy committed Brunel to targeting 1.5°C both across its portfolios and in the broader industry. In the policy Brunel also committed to a five-point plan to engage widely on climate with stakeholders including asset managers and policy makers.
Implementation of the policy has been a key focus for the Brunel team ever since. In 2022, Chronos managed a consultation process for Brunel’s ‘Climate Stocktake’, an in-depth assessment of progress to date, including a series of interviews and deep-dive workshops with multiple stakeholders to evaluate progress, inform content and to consider how the policy could be improved.
The stocktake confirmed that Brunel was making good progress in implementing the policy, but that significant work was still needed to achieve the 2030 outcomes. Following the stocktake, Brunel reaffirmed its five-point plan and strengthened certain of its targets to reflect changing demands and market conditions.
