Hackney Pension Fund has set an ambitious target to achieve net zero emissions by 2040, a significant step in its commitment to tackling climate change within its investment portfolio.
The fund's latest Task Force on Climate-related Financial Disclosures (TCFD) report, as of March 31, 2026, reveals a notable 29.4% reduction in its scope 1 and 2 carbon footprint since 2023. The carbon footprint has decreased from 54.4 Emissions/£m in March 2023 to 38.4 Emissions/£m in March 2026.
This progress aligns with interim targets, including a 50% reduction in carbon footprint by 2030 and aiming for a 2°C portfolio by 2030, with a 1.5°C goal for 2040. The fund also plans to allocate 10% of its assets to climate solutions, in line with strategic asset allocation changes and fiduciary duties.
The report, presented to the Pensions Committee on September 22, 2026, also highlighted the use of proxies in calculating metrics where industry data limitations exist, and acknowledged the inherent limitations of climate scenario analysis. Despite these challenges, the fund's commitment to transparency and proactive climate risk management was evident.