To ask the Member for South West Bedfordshire, representing the Church Commissioners, what steps the Church Commissioners are taking to make sure their investments support a net zero carbon economy.
This answer is the replacement for a previous holding answer.
12 February 2021
The Church Commissioners have committed to reaching a net-zero portfolio in 2050 and the Church of England's National Investing Bodies joined the UN Net Zero Asset Owner Alliance in 2020. More detail about the alliance can be found here: https://www.churchofengland.org/news-and-media/news-and-statements/church-england-national-investing-bodies-join-un-convened-net
The Church Commissioners have instituted further climate-related investment restrictions to capture companies that have significant greenhouse gas emissions but are not taking seriously their responsibilities to assist with the transition to a net-zero emissions economy. We are also setting our first interim emissions reduction target as members of the Net Zero Asset Owner Alliance, working with our public equities managers to achieve it.
The Church Commissioners are committed to the decarbonisation of the real economy, through engagement with policymakers and companies. The vision is for a net-zero carbon emissions global economy by 2050.