NILGOSC became a TCFD supporter in June 2020 and published its inaugural climate-related disclosures report in 2021. Since then, NILGOSC has reported annually against the framework’s four pillars: governance; strategy; risk management; and metrics and targets. Although regulations applicable to local government pension schemes have yet to be introduced, NILGOSC continues implement the recommendations of the TCFD, developing its climate-risk management and reporting capabilities. The most recent report is available at NILGOSC Climate-related Disclosures 2026.
Carbon analytics provided by NILGOSC’s global custodian, Northern Trust, enabled coverage of 48% of the Fund’s holdings at 31 March 2026 year end. The measured portion of the Fund compared favourably with the MSCI World Index benchmark, producing 49% lower Scope 1 and 2 emissions and reporting a 42% lower Weighted Average Carbon Intensity.
During the year NILGOSC continued to integrate climate considerations throughout its governance, investment and stewardship activities. The Fund maintained its exposure to renewable energy and energy-transition infrastructure investments and continued to assess portfolio resilience using climate scenario analysis.
As with all climate disclosures, results should be viewed in the context of evolving data quality and coverage limitations across asset classes. However, reporting methodologies and data quality continue to improve, driven by increasing regulatory pressures and the development of new standards and frameworks.
Adopting the TCFD recommendations is an iterative process and will require further development over future reporting periods. NILGOSC will continue to work closely with Northern Trust to enhance climate-related reporting, data availability and asset coverage in future years.
