The Westminster City Council Pension Fund has become a signatory to the UK Stewardship Code, after sharing a number of climate-related commitments.

The fund was one of a number of UK pension schemes to become a signatory to the code in the latest assessment cycle, taking the total number of signatories to 254, up from 235 in September last year. The scheme's application highlighted a number of specific commitments and achievements, including a 75 per cent reduction in its carbon emissions since 2019. The scheme also moved a third of its equity portfolio away from funds that invest in tobacco, alcohol, gambling, weapons, fossil fuels, and gas or electrical utilities, with the remaining equities transitioned into low carbon versions.

The Investment Association (IA) has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member.

The IOSCO is the international body that brings together the world's securities regulators, developing and promoting adherence to internationally recognised standards for securities regulation. Commenting on the news, IA chief executive, Chris Cummings, said: “We are proud to become an affiliate member of IOSCO. A close and collaborative relationship between IOSCO and industry is essential in achieving these goals. Representing one of the world’s largest investment management centres, we look forward to playing an active role in support of its work on financial stability, fund liquidity, systemic risk, and sustainability this year.”

Macquarie Asset Management’s Green Investment Group (GIG) has launched VORN Bioenergy.

The specialist European biomethane platform is active across the full asset lifecycle, and develops, constructs and operates biomethane projects that provide biomethane and power to local energy companies, industrial companies and energy traders. Announcing the relaunch, GIG also revealed that VORN has begun exploring opportunities in emerging growth markets including Spain, having established a new partnership with Greenar to take forward greenfield development projects.

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