Border to Coast begins quizzing GPs on biodiversity

Border To Coast Pensions Partnership has begun requesting information relating to biodiversity and nature from some of its managers.

In a conversation with New Private Markets, responsible investment manager Alex Faulkner said: “We’re still looking at the TNFD. It’s relatively early for us, but we are discussing how and if we would report that. We need to be comfortable getting the data and clear with the requirements before we consider reporting in the future.

“We have sent out a questionnaire specifically on biodiversity and TNFD to a handful of our more advanced GPs in the private market.”

Border to Coast is one of the largest pension pools in the UK: its partner Local Government Pension Schemes have more than £60 billion (€70 billion; $75 billion) of assets, according to its website. It created a £1.35 billion, three-year bucket for private markets climate-related opportunities in 2022.

Private markets funds the pension pool has backed include: Hg Genesis 10 ($60 million); Quinbrook Renewables Impact Fund (£90 million); EQT Ventures III ($60 million); Ara Fund III ($125 million); EQT Infrastructure Fund V ($125 million); Meridiam Sustainable Infrastructure Europe IV (€100 million); and Baring Asia Private Equity Fund VIII ($140 million).

Biodiversity is one of three areas that BTC is focused on with regard to ESG. On the pool’s current priorities, Faulkner said: “Biodiversity, diversity of thought and human rights are the three bits that we’re gradually inserting into our due diligence, and they will form part of our monitoring then as well. They’re the three big ones.”