Pensions Age reports that Brunel Pension Partnership (BPP) has emphasised its commitment to investor transparency with the publication of three reports around responsible investment, highlighting “excellent progress” against its commitment to reach net-zero by 2050.

The scheme’s 2021 Responsible Investment and Stewardship Outcomes Report revealed that it has achieved another year of at least 7 per cent carbon intensity reduction versus the 2019 baseline for all of its active portfolios, and all but one of its index tracking portfolios.

Furthermore, the Brunel Aggregate Portfolio had an efficiency of 22 per cent versus the benchmark, up from 15.4 per cent a year earlier, with the group emphasising that it was "especially proud" to be reporting “an even better improvement rate”.

In addition to this, the report confirmed that the scheme has engaged on 3,101 issues at 881 companies over the past year, achieving 1,050 milestones, as well as successfully engaging banks on fossil fuel lending to change practices.

This is the scheme's second Outcomes Report, which has allowed for easier year-on-year comparisons, with Brunel CEO, Laura Chappell, highlighting the second edition as demonstration of the scheme's progress across several key themes, as well as giving strong evidence of the time and energy BPP commits to following through on core values.

“It also enables us to think about where we could be more effective and how we need to develop our thinking and our approach," she added.

Alongside this, the group’s Climate Action Plan Report, published in line with the Taskforce for Climate-related Financial Disclosures (TCFD) recommendations, has reported “excellent progress” against its commitment to be net-zero by 2050.

In particular, the report stated that the scheme has made "considerable progress" in measuring and reducing its Scope 3 emissions by 2030.

“Our ambition is to provide leadership on climate investing and, through that leadership, to help transform the industry to make it fit for a net-zero world,” commented BPP chief responsible investment officer, Faith Ward.

“We all know how urgent the problem is and how much finance needs to be part of the solution. Brunel is a strong advocate for global mandatory disclosure to TCFD, and we hope this report demonstrates that commitment.”

The group’s Carbon Metrics Report, which provides a deep dive on the carbon exposure of all of its active holdings, has also revealed that that the carbon intensity of its aggregate portfolio is 22 per cent more efficient than its benchmark.

“To outdo our benchmark so significantly is a major achievement and proof of the direction of travel. What always matters most, however, is what happens next," commented Brunel responsible investment manager, Laura Hobbs.

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