Published: October 09, 2024

LGPS Central, along with some of the UK and Australia’s largest pension funds, has collaborated to release a landmark blueprint aimed at mobilising pension capital to help achieve the UK Government’s clean power targets by 2030. With a combined investment power of £1.7 trillion (AUD3.25 trillion) in workers’ retirement savings, this initiative is set to drive significant progress towards renewable energy goals.

The report, Mobilising pension capital for net zero: a policy blueprint for the UK, outlines critical policy reforms, including planning and financial reforms, designed to attract pension fund capital into clean energy projects. Recommendations include reforms to Public Sector Net Debt (PSND) and adjustments to planning regulations, all aimed at unlocking large-scale investment to support renewable energy deployment, industrial decarbonisation, and the growth of emerging net zero industries.

The blueprint, developed with leadership from IFM Investors and supported by the Pensions and Lifetime Savings Association (PLSA), was launched at Westminster today in a roundtable event featuring the Chief Investment Officers of major UK pension funds.

The blueprint highlights the need for pension funds to work within the right policy framework to prioritise the interests of their members while contributing to the UK’s clean energy future. As a signatory, LGPS Central joins other major pension funds, including Border to Coast, Universities Superannuation Scheme (USS), and Nest, in supporting this important initiative.

CEO, Richard Law-Deeks said, ‘We have been a strong supporter of the UK’s energy transition and are positive on the market outlook. It's not only additional capital from long-term UK investors that is required, but also a step change in the UK's planning processes and policy reforms, as outlined in this report, to attract private investment and help achieve the government's clean energy goals’.

Here you can find more information and download the full blueprint.