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Wiltshire Pension Fund Net-Zero Engagement

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Wiltshire Pension Fund are proactively embedding the Net-Zero climate emission targets into our investment strategies and portfolio rationales. The investment team have been analysing companies The Fund holds shares in, identifying which of these holdings do not align with the Fund's decarbonisation strategy.

The biggest challenge is data availability - it is important to recognise the data is sparse and getting companies to disclose such complex measurements is not easy. With this in mind, two tools have been used for this analysis - Climate Action 100+ (CA100+) and Transition Pathway Initiative (TPI). These tools are similar in terms of what they are evaluating, however the indicators used are slightly different. Also, they may capture different companies - for instance, if an organisation is not captured by CA100+ they may be evaluated by TPI.

Initiative Description
Climate Action 100 Logo
An initiative to assess the world's largest corporate greenhouse gas emitters, with the aim to influence and encourage the climate mitigation. They assess companies against 10 climate related questions such as "does the company have Net-zero GHG emission targets by 2050 (or sooner)?", "is there a decarbonisation strategy in place?", and "does the company have a climate engagement policy?"
Transition Pathway initiative logo
Rates companies on a scale 1-4* for their preparedness for the transition to a low carbon economy. TPI also assess against specific metrics such as "Does the company acknowledge climate change as a significant issue for the business?" and "Has the company set long-term quantitative targets for reducing its greenhouse gas emissions?"


The analysts at Wiltshire Pension Fund have used the two initiatives above to identify the poorest holdings in our portfolio. This has provided the team with a direction of focus to go to our investment managers and see how they are engaging with these companies to encourage sustainable change.

Wiltshire Pension Fund Net-Zero Engagement logos


Wiltshire Pension Fund endeavour to keep to the net-zero commitment whilst monitoring and adhering to the ESG framework and will continue to interrogate our managers to ensure the best in class social and environmental impact, whilst securing the financial health of the Fund.


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Daniel Smith

Pension Fund Investment Analyst

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