In this report we cover the impact of climate risk on the MNOPF, detailing the approach we take to manage climate-related risks and opportunities, the actions taken to date, the assessment of the Fund’s exposures and the expected impact of climate change on the MNOPF.
We believe that Sustainable Investment has a material financial impact on investments and is therefore integral to successful mission delivery for our members. Given the importance of this topic we consider the possible impacts on MNOPF investments, security of members’ benefits, and the support Participating Employers can provide to ensure those benefits are paid.
We have set ourselves a target to reduce the carbon footprint of the MNOPF to net-zero by 2050 or sooner, and an interim 25% reduction by 2026. Pleasingly, we are slightly ahead of our planned trajectory to achieve the 2026 objective as absolute carbon emissions have fallen since the first report and we have taken action to help manage climate change risks and opportunities. We recognise the limitation of focusing on a single figure and so we monitor a range of climate change metrics as part of our ongoing management. We look forward to sharing our progress again with you next year.
To view the MNOPF Climate Change Report 2024 – click here.