The Climate Risk & TCFD Report constitutes the sixth edition of Shropshire County Pension Fund’s analysis of its approach to climate related risks and opportunities, and also contains a detailed analysis of the fund’s climate metrics.
The fund is committed to addressing the issue of climate change and improving transparency in this area. From December 2025, the climate risk report and the Task Force on Climate-related Financial Disclosures (TCFD) have been combined into one consolidated report.
The report is structured around the four pillars of the Task Force on Climate-Related Financial Disclosures (TCFD): Governance, Strategy, Risk Management, and Metrics & Targets. It serves as the fund’s TCFD compliant report, and therefore aims to continue to provide an in-depth review of the fund’s approach to identifying, assessing, and managing climate risks and opportunities across its investments.
The key indicators from the report are:
- That the fund’s equity portfolio is 62% lower than its blended benchmark for financed emissions and despite increasing equity holdings and seeing values increase 75.6% since 2020 the Fund has seen a real reduction of 34.5% since the 2020 report.
- The fund’s equity portfolio is 65.2% below its blended benchmark for normalised finance emissions (Emissions per £1m invested).
- The fund’s equity portfolio is 58.2% lower than its blended benchmark in respect of Weighted Average Carbon Intensity (WACI). This means that, on average for every $m of economic output companies produce, the fund’s investee companies emit 58.2% fewer greenhouse gas emissions than companies in the blended benchmark.
The report demonstrates a strong direction of travel in line with the fund’s agreed Climate Strategy.
Within the report you will find:
- Key Highlights
- Introduction
- Governance
- Strategy
- Risk Management
- Metrics and Targets
- Glossary
