The Church of England Pension Board has called for investors to work with them in order to develop a new low carbon index.

Speaking at the Transition Pathway Initiative (TPI) Asset Owners State of Transition Climate Summit on Monday, 4 July, Church of England Pension board investment committee chair Alan Fletcher asked investors to help build on initiatives already in place and “minimise exposure to poorly rated companies”.

This month, TPI launched a report named The State of Transition in the Coal Mining, Electricity and Oil and Gas Sectors, which assesses the carbon management and performance of the world’s largest and highest emitting public companies.

Fletcher said: “We are committed to doing all we can and creating an index we believe will both meet our investment needs, minimise our exposure to poorly rated companies, reward those that are managing the transition and reinforce our engagement with energy intensive companies.

“I hope that those we are invested in can see that asset owners are responding to the transition and moving their capital to those that are best placed to manage this critical issue.”

The Church of England has long been calling out large companies in their limited efforts to combat climate change.

In April, the Church of England Pensions Board has issued £50m of bonds in order to purchase additional properties for its clergy retirement housing scheme.

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