Lambeth Pension Fund is set to enhance its financial reporting by aligning with the Task Force on Climate-related Financial Disclosures (TCFD) and the Task Force on Nature-related Financial Disclosures (TNFD).
The decision, made during a Lambeth Pensions Committee meeting on Wednesday, 29 July 2026, will see officers prepare a discussion paper on the feasibility and timescales for implementing these new reporting frameworks. The committee's discussions highlighted the fund's current identification of climate change as a significant risk, with a risk rating of eight against a target of four. This rating is unlikely to improve in the short term until decarbonisation plans are actioned, and the high level of uncertainty surrounding future impacts further complicates any potential rating uplift.
The fund is also preparing to report against TCFD requirements due to forthcoming legislation. The forthcoming discussion paper is expected to help refine the fund's approach to these disclosures. Furthermore, Lambeth Pension Fund has a commitment to a 2040 Net Zero carbon emissions target, with a decarbonisation plan to be developed and agreed as part of a Responsible Investment Policy, alongside the Investment Strategy Statement.
Officers agreed to present the discussion paper on the feasibility and timescales for TCFD and TNFD reporting at the next committee meeting. While the exact timeline for the implementation of these reporting frameworks is not yet specified, the discussion paper is intended to provide guidance on this matter. The insights gained from TCFD and TNFD reporting are expected to influence the fund's investment strategy and responsible investment strategy, particularly in light of new statutory guidance that includes climate change risks.
The meeting agenda and public reports pack for the 29 July 2026 Pensions Committee meeting can be accessed online.
Agenda frontsheet Wednesday 29 July 2026 18:30 Pensions Committee
Public reports pack Wednesday 29 July 2026 18:30 Pensions Committee