Barnet management of pension fund
Received: 20 March 2023
Dear Barnet Borough Council,
Please provide the following information in relation to Barnet management of pension fund climate risk, & information & advice on same provided by external investment consultants including (but not limited to) Aon, Mercer, Allenbridge Epic and Hymans Robertson.
1) Please provide emails & correspondence between council employees (Barnet finance function + responsible investment & pension fund mgmt), procurement, elected members (on pension fund committee), scheme members & external investment consultants on climate risk between 2018 and 2023
Q1 amended on 30.03.2023 to read
Please provide emails & correspondence between the named council employees (Barnet finance function + responsible investment & pension fund mgmt), procurement, elected members (on pension fund committee), scheme members & external investment consultants on climate risk between 2018 and 2023
* Anisa Darr, Director of Finance
* David Spreckley - Head of Pensions and Treasury
* Susan Lowe - Procurement
* Cllr Shooter - Chair of Pensions Fund
I would also kindly suggest - given relevance of the role to the discharge of LGPS fiduciary duty:
* Jessica Farmer - Chief Legal Advisor Monitoring Officer (+ her predecessor in the role - as well as the predecessors within timeframe of any of the above named individuals)
* David Tatlow
2) Please confirm if specific advice or information on climate risk has been sought by Barnet and received from Mercer, or other such external investment consultants? - If so please provide copies of this information. (key search terms include "climate risk", "physical risk", "asset allocation" and "fossil fuels")
3) Please provide the following data points in MS Excel format in relation to each external climate risk analyses undertaken on the councils investment portfolio, noting the date/ year + provider of each analysis:
i) Warming scenarios applied, i.e 2degC, 3degC, 4,degC, 5degC, 6degC & year in which it is suggested each warming threshold considered by the scenarios will be reached?
ii) Projected gains or losses for the portfolio &/or GDP activity for each scenario/year assessed
iii) Specifics of any change(s) to asset portfolio allocation recommended by the consultants to reduce the risk of future financial losses and/or to reduce financed emissions across the portfolio.
Yours faithfully,