Church makes £600m investment in climate change index

The Church of England Pension Fund has invested £600 million (€709 million) in the “first global index” that bridges passive investments with companies making headway on climate issues.

The Church’s pension fund co-created the FTSE TPI Climate Transition Index Series with FTSE Russell, the index provider, and with  the Transition Pathway Initiative (TPI), an organisation backed by asset owners that is focused on carbon transition.

Adam Matthews, director of ethics and engagement at the pension scheme, said the index series means passive investors will be able to play their part in supporting the goals of the Paris Climate Agreement.

“The Church of England Pensions Board will no longer be invested in several household names in the oil industry,” he said. “The index leaves open a path for any one of these excluded companies to transition in line with the Paris Agreement and claim their place in the index at a later date.”

The index combines FTSE Russell and TPI analysis on company exposure to five climate issues: green revenues, fossil fuel reserves, carbon emissions, management quality and carbon performance assessments.

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