Brunel’s climate reporting 2024 prioritises transparency, exceeds TCFD requirements through focus on methodologies and data

Alex Monro
Head of Communications
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Brunel Pension Partnership’s new Climate Change Progress Report 2024 shows how Brunel performed in 2023 against a range of climate targets and ambitions – and demonstrates the rapid progress made.

Climate-related data and reporting remains underdeveloped across the industry, both in the UK and internationally – encouraging barest-minimum adherence to reporting standards. Brunel’s approach has been to exceed requirements and, where useful, to seek out alternative measures and metrics to better track progress across its portfolios.

“Our Progress Report captures the delivery on our investor commitments towards Paris Alignment, including targets now covering of 85% of our asset under management, and that is made possible through working in partnership with our clients, asset managers and service providers,” said Faith Ward, Chief Responsible Investment Officer at Brunel.

Ahead of the 2024 reporting round, Brunel accelerated its reporting progress by operationalising reporting requirements – and our high disclosure level – to ensure we continue to exceed the recommendations of TCFD, which became mandatory for Brunel from 2024.

We also added narrative to support our data disclosures, ensuring additional context around the report to better equip our clients in their decision-making. This was demonstrated in our Climate-Related Product Report 2024, which captures the information previously disclosed in the annual Carbon Metrics Report (and more, besides), but contextualises and probes the data further through commentary, context and supplementary information.

As both reports demonstrate, we use TCFD and NZIF as the frameworks through which we report on our climate-related progress, using them to emphasise the scale and depth of reporting – rather than any individual metric.

Method in our metrics

In 2024, our methodologies have ensured enhanced reporting on:

  • Averages specific to industry sectors
  • Proxies for Enterprise Value including Cash (EVIC)

Our reports demonstrate the progress made on placing our assets under an Alignment Target, and our ambition to complete the process by June 2025.

“Climate reporting at Brunel has a dual role – to improve the delivery of our climate ambitions across our portfolios, and to set a standard that resonates across the wider industry,” said Laura Chappell, Chief Executive Officer. “I am delighted that such rapid progress on both counts was made across 2023.”

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