Request ID: FOI-0740-2122 Date published: 03 August 2021
You asked
I wish to request the following information regarding the TFL pension scheme - I was unable to find a separate FOI address for the scheme, but please do let me know if my request should be directed elsewhere.
The TFL Pension Scheme is listed as an active participant of the Climate Action 100+ initiative. Please could you provide me with the following information:
1) Any documents or correspondence surrounding the scheme's decision to join the initiative and discussions thereof.
2) If a formal application was made, a copy of the application as well as any associated correspondence with Climate Action 100+ surrounding the application and joining process.
3) A list of any companies that the scheme is engaging or has engaged with as part of the initiative, either as a lead or supporting investor. Please could you make clear for each company whether the scheme was/is engaging as a lead or supporting investor. If the scheme is no longer engaging with a company please could you provide me with the date and reasons that the engagement ceased
4) The names of any other leads, co-leads or supporting investors in these engagements.
5) A list of all lead, co-lead and local lead engagers and the companies they are assigned to as part of the initiative.
We answered
TfL Ref: FOI-0740-2122
Thank you for your request of 7th July 2021 asking for information about the TfL Pensions Scheme’s participation in the Climate Action 100+ initiative.
Your request has been considered in accordance with the requirements of the Freedom of Information Act and our information access policy.
I can confirm that we hold some of the information you require. Your questions are answered in turn below, so far as we can:
Please could you provide me with the following information: 1) Any documents or correspondence surrounding the scheme's decision to join the initiative and discussions thereof.
TfL does not hold the requested information. The TfL Pension Fund is a separate legal entity to TfL. Any information that is held by TfL staff or on TfL systems in relation to this question is not held by TfL for its own purposes - rather, it is held on behalf of the Pensions Fund. Therefore, it falls outside the definition of “information held” for the purposes of FOIA under section 3(2). 2) If a formal application was made, a copy of the application as well as any associated correspondence with Climate Action 100+ surrounding the application and joining process.
See answer to question 1. Note further that no formal application is held on record and this most likely would have been undertaken via email. The Fund joined the CA100 initiative around the beginning of 2018. This was disclosed in the 2018 Sustainability Report https://content.tfl.gov.uk/tfl-pension-fund-report-on-sustainable-investing-2018-1.pdf - pages 20 and 21 contain the details.
3) A list of any companies that the scheme is engaging or has engaged with as part of the initiative, either as a lead or supporting investor. Please could you make clear for each company whether the scheme was/is engaging as a lead or supporting investor. If the scheme is no longer engaging with a company please could you provide me with the date and reasons that the engagement ceased
This information is provided in the Fund’s annual Sustainable Investing reports which are published online.
To confirm, the Fund is a supporting investor in three ‘focus company’ engagements – Anglo American, Rio Tinto and Rolls Royce. We have been involved in these engagements since the start of CA100 in 2018 and remain involved. 4) The names of any other leads, co-leads or supporting investors in these engagements.
And; 5) A list of all lead, co-lead and local lead engagers and the companies they are assigned to as part of the initiative.
Please see our answer to Question 1. You may want to put these questions directly to CA100. Note that a list of all participating investors can be found on its website via the following link: https://www.climateaction100.org/whos-involved/investors/ You can also find information from the CA100 progress reports, which covers updates on the regional working groups and who convenes these groups, here:
Please see the attached information sheet for details of your right to appeal as well as information on copyright and what to do if you would like to re-use any of the information we have disclosed.
Yours sincerely,
David Wells FOI Case Officer FOI Case Management Team General Counsel Transport for London
