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19 July 2017

EAPF leads way in responsible investing

The Environment Agency Pension Fund’s (EAPF) 2016/17 Annual Report and Financial Statements show it has delivered outstanding financial returns, while maintaining its position as a global leader in responsible investing.

The EAPF exceeded investment performance expectations over its latest three year valuation period and is currently ranked at number two in the Asset Owners Disclosure Project Global Climate 500 Asset Owners Index. The EAPF has also maintained its AAA rating for four years in a row.

The EAPF is part of the Local Government Pension Scheme (LGPS) and has around £3.5bn in assets. The EAPF has just under 40,000 members and provides pension benefits for employees and former employees of the Environment Agency and Natural Resources Wales.

Emma Howard Boyd, Chair of the Environment Agency, said: “Our beneficiaries demand that we raise the bar for environmental, social and corporate governance as well as deliver a solid financial performance. These results show that we are excelling in both. I am proud that our focus on responsible investments and decarbonisation means that the Environment Agency Pension Fund is an example to others around the world.”

With a 96% participation rate with employees, the EAPF’s responsible investment strategy is well regarded by members who recently rated their pension package as a top employee benefit.

The EAPF’s investment strategy delivered 11.6% annualised investment returns over the last five years. This puts the EAPF in a strong position as it considers making changes to the delivery of investment services and pooling resources with other LGPS funds.

The new Brunel Pension Partnership (BPP) brings together the assets of the EAPF along with nine other LGPS funds in a bid to cut costs and deliver long term financial benefits.

Key figures:

  • The EAPF achieved a 103% asset to liability ratio in its recent actuarial valuation.
  • Annualised 11.6% investment returns over the last five years averaging +1% over the EAPF’s strategic benchmark.
  • One of the lowest total employer contribution rates in the Local Government Pension Scheme (LGPS).
  • 73% of Environment Agency employees rated their pension as top reward package benefit.

For more information read our 2016/17 Annual Report and Financial Statements for the Active and Closed Funds.

Last updated: 20/07/2017