03 Pension Protection Fund Climate Change Report 2021/22 Introduction from our Chair The COP26 Climate Summit The PPF is committed to shaping best practice Many organisations are making statements about in this regard. One of the four priorities of our new their ambitions to support a world of ‘Net Zero’ held in Glasgow last November Strategic Plan for the next three years is ‘Making carbon emissions. We share this vision. But to ensure a di昀昀erence’. As part of this, we are developing our actions are e昀昀ective, practical and sustained, we intensi昀椀ed the impetus for a holistic sustainability strategy, and continuing are taking a thorough, data-led approach to change. to set ourselves high standards on climate co-ordinated global action change, responsible investment and diversity & So we’re looking at the detail, measuring our inclusion (D&I). performance, and driving action based on facts and on climate change. It also analysis. Through this kind of work and innovation We aim to set the standard in our approach to we will make a positive di昀昀erence, particularly in increased expectations on major responsible investment by constantly advancing the areas directly within our control. I’m proud analysis of our climate-related risks and setting clear of the work we’re doing in this area. We have a institutional investors – such expectations and actions to respond to them. We genuine opportunity to help shape the debate continue to advance our stewardship practices to and raise standards. as pension schemes and their reduce the risks to which we are exposed. And we engage constantly with our external fund managers trustees – to assess the role to encourage ever-greater levels of transparency and disclosure. their assets are playing in either We also recognise that we need to be prepared to hold ourselves to the same high standards as we do contributing to, or mitigating, others. As well as rigorously assessing the climate risks of our investment portfolio, we have therefore Kate Jones the threat of global warming. started to look at the environmental impact of our Chair own operations.