By Sophie Smith
4/5/21
The Universities Superannuation Scheme (USS), the UK s largest pension scheme by assets, has announced its commitment to reach net-zero for greenhouse gasses by 2050.
As part of this, USS Investment Management will develop a comprehensive strategy to deliver on this ambition while also remaining mindful of the scheme s fiduciary duties.
The transition will not rely on buying carbon offsets, and will instead require a fresh focus by its internal investment teams in terms of where and how it divests, as well as collaboration with peer funds, external asset manages and others in the investment value chain.
Actions expected to be included in the short-, medium- and long-term targets currently being developed include working with internal investment teams to ensure processes are in place to select those companies, which assets to own, and which assets to divest from.