Dear Tameside Metropolitan Borough Council,
The GM Pension Fund has reported that it has transferred £2.4 Billion of its holdings from passive tracker funds to a "low carbon" fund. It has claimed that this is the "biggest divestment by any LA pension scheme in the UK" (e.g. GMPF meeting livestream, https://tinyurl.com/y2f6ylhz approx 7 minutes in). No published information appears to be available for this claim to be substantiated.
Therefore please provide,
1) A list of the investments sold to fund this transfer.
2) A list of the investments purchased as the "low carbon" fund.
3) The dates on which these transactions were made.
4) The monetary value of the sales made and the costs of the new investments made under 1 and 2 above, respectively.
5) The quantitative information available to you on the carbon intensities of a) the assets sold and b) the new investments made.
6) Your estimate of the tonnes of carbon dioxide equivalent reduction attributable to the Fund's actions at 1 and 2 above.
Thank you for your assistance in this matter.
Mark H Burton
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