Members of the Church of England Pensions Board open trading at the London Stock Exchange on Jan. 30 at the launch of the new Transition Pathway Initiative Climate Transition Index. Photo: Church of England

[Anglican Communion News Service] The Church of England Pensions Board has launched a Transition Pathways Initiative (TPI) Climate Transition Index to guide investors on companies’ progress towards alignment with the Paris Agreement on climate change. The FTSE TPI Climate Transition Index will enable investment funds to link their investments on the London Stock Exchange to the progress companies are making in line with the Paris Agreement. The move follows calls from Mark Carney, the outgoing governor of the Bank of England, for pension funds to tackle the financial risk of climate change.

The Pensions Board has announced an initial investment of £600 million in the index, which is also backed by 62 funds with over US $18 trillion (approximately £13.75 trillion GBP) of combined assets under management or assets under advice.

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