The Enfield Council aims to shift funds to greener alternatives, in order to achieve their target of being carbon neutral by 2030. The target set by the council, as they declared a climate emergency in July last year.
The council claimed in February last year that the amount of pension investment in fossil fuels is around £18 million. Councilors will decide whether to go ahead with the changes to the scheme at a meeting of the pension committee on Thursday, February 27, which will take place at 9.30 am at Enfield Civic Centre.
Attitude for green investment is now changing: previously, it was seen as being created on a non-commercial basis. But now green investments are expected to produce financially acceptable returns.
“We are now telling investors that they don’t always have to sacrifice returns” to be green, Brian Deese, head of sustainable investment at BlackRock, told the IFC meeting. “We are seeing a big increase in investor demand.”
Indeed as the green sector boom, variation in terms of investment grow. Rather than investing directly in green projects, but is instead buying green bonds issued by emerging market banks.
And now Enfield is quick to follow the trend.
