The North Yorkshire Council Pension Fund has recently committed nearly €234m to support environmentally sustainable investments. This move is part of the fund's ongoing strategy to focus on green initiatives. The investment has been made into the Border to Coast Pensions Partnership Climate Opportunities Fund, which is a significant step towards diversifying the fund's portfolio towards clean energy, infrastructure, new technologies, and carbon capture.
The decision to allocate funds towards this strategic initiative was made by committee members from various political parties, including the Conservatives, Labour, the Liberal Democrats, and the Greens. The meeting was held at County Hall in Northallerton, and the committee members unanimously agreed to the investment. This decision highlights the fund's commitment to supporting emerging industries that offer sustainable growth and returns.
Councillor George Jabbour, who chaired the committee, emphasized the importance of this move for the future of the fund. “Allocating four per cent of the assets of the North Yorkshire Pension Fund to this new programme means that we would be investing nearly £200m (€234m) in areas that offer substantial opportunities for our members and the broader community,” he stated.
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