London United Busways Retirement Benefits Plan
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Climate Change
- Diversity
- Modern Slavery
Environmental Achievements
- Mercer, the fiduciary manager, is on track to meet its long-term net-zero portfolio carbon emissions expectation by 2050, with a 33% reduction since 2019 baseline levels for its Model Growth Portfolio.
Social Achievements
- Mercer's ambition to promote diversity extends to the managers it appoints; as of April 1, 2023, 35% of Key Decision Makers within Mercer Investment Solutions team are non-male.
Governance Achievements
- Mercer and MGIE provide regular reporting to the Trustee on ESG, climate change, and stewardship, including alignment with the UK Stewardship Code.
Climate Goals & Targets
Long-term Goals:
- Mercer's aim to achieve net-zero absolute portfolio carbon emissions by 2050.
Medium-term Goals:
- Mercer's 2030 target to reduce portfolio carbon emissions by 45% from 2019 baseline levels.
Environmental Challenges
- Obtaining comprehensive voting and engagement activity data from Utmost (pension provider) due to missing information from underlying fund managers.
Mitigation Strategies
- The Trustee continues to request this information and will upload an additional version of the statement once received.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: TCFD, UN PRI