The Lambeth Pension Fund has set a target to achieve net zero carbon emissions by 2040, a significant commitment aimed at aligning its investments with global climate goals. This ambitious target was formally adopted as part of the fund's updated Investment Strategy Statement (ISS) for 2026, which was approved by the Pensions Committee on March 25, 2026.
The updated ISS reflects recent legislative changes and the delegation of future investment management to the London CIV (LCIV). A key element of the new strategy is the explicit commitment to a 2040 net zero target, supported by interim targets for Weighted Average Carbon Intensity (WACI).
The update to the Investment Strategy Statement was prompted by recent legislative changes. The strategy now includes an updated approach to climate change, with the 2040 net zero target and interim WACI targets being central to this. The delegation of future investment management to the London CIV (LCIV) is expected to impact the fund's ability to achieve its net zero target, with LCIV taking on specific responsibilities in this regard.
While the specific interim WACI targets and their timelines are detailed within the updated ISS, the strategy also outlines mechanisms and engagement strategies the fund will employ to encourage portfolio companies to reduce their emissions and align with the net zero goal. Further details on the fund's strategy and performance can be found in the Investment Strategy Statement 2026 Part I and the General Update Report March 2026.
