Devon Pension Fund 2050 Net-Zero Pledge
The Devon Pensions Committee has committed to achieving a net-zero investment portfolio by 2050 and to reduce the carbon intensity of the Fund by 7% per annum.
In the short-term, the Fund has also committed to invest over £200 million in renewable energy infrastructure funds via the Brunel Pension Partnership. In collaboration with the Brunel Pension Partnership the committee has pledged to increase its investments into carbon solutions.
Prior to this pledge the Fund had begun decarbonising its portfolio; between March and December of 2019 the portfolio was 21.5% less carbon intense.
This Fund administers pensions for most of Devon’s public sector, including emergency services and local government, therefore this pledge will have a significant impact on the emission’s intensity of Devon based pensions.
How is this helping Devon reach net-zero?
Action C1: Foster innovation in technologies, institutions, business models, policy design and behaviour to achieve net-zero.
This pledge is working to achieve an main goal of the Devon Carbon Plan to divest from fossil fuels.