Climate Change Data

BOC Retirement Benefits Scheme

Climate Impact & Sustainability Data (2021-12-31 to 2022-12-31, 2023-04-01 to 2024-03-31)

Reporting Period: 2021-12-31 to 2022-12-31

Environmental Metrics

ESG Focus Areas

  • Climate Crisis
  • Environmental Impact
  • Human Rights

Climate Goals & Targets

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: UN Principles for Responsible Investment, UK Stewardship Code 2020

Reporting Period: 2023-04-01 to 2024-03-31

Environmental Metrics

Total Carbon Emissions:77,163 tCO2e (2023)
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • 33.6% decrease in carbon footprint from 2021 to 2023 (2.5% per annum reduction)

Social Achievements

  • Not disclosed

Governance Achievements

  • Established a robust framework for assessing climate-related risks and opportunities, including clearly identifying roles for the Trustee and its advisors; Climate change is an explicit agenda item at least annually for the Trustee and the Joint Investment Committee (JIC).

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Data limitations for illiquid assets (natural catastrophe reinsurance and hedge funds), resulting in incomplete coverage of the portfolio for climate-related metrics; Challenges in obtaining high-quality climate-related data from some companies, particularly in emerging markets; Uncertainty regarding the timing and magnitude of future climate-related shocks.
Mitigation Strategies
  • Using proxy data where possible; Working with investment advisors and asset managers to improve data collection and quality; Undertaking climate scenario analysis to assess the resilience of the investment and funding strategy to various climate scenarios.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events
Transition Risks
  • Policy changes, stranded assets, market repricing
Opportunities
  • Investing in climate solutions

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed