Investing in a just transition – UK project

Project objectives and activities

Building on the global project, the Grantham Research Institute has designed a dedicated project that focuses on the UK and the role that investors can play in linking the environmental and social dimensions of the transition. The project is being implemented together with the University of Leeds, who will focus on a regional pilot exploring the transition risks and opportunities facing the Yorkshire region and the contribution that investors could make.

The UK project is:

  • Surveying the UK policy and investment landscape on the just transition, mapping high-level transition exposure across the country and identifying the specific case for investor action.
  • Conducting an in-depth regional case study of Yorkshire, analysing transition risks and opportunities, and working with local stakeholders to develop a place-based agenda for the just transition.
  • Working with leading financial institutions to apply the framework for investor action in a series of Yorkshire-based examples, covering shareholder engagement, capital allocation and policy dialogue.
  • Identifying how to strengthen the role of investors in financing a just transition in Yorkshire, including building up a pipeline of investable assets, highlighting any barriers that are preventing this.
  • Developing a national roadmap for investing in a just transition, setting out the lessons of the Yorkshire pilot for other regions, how investors can bring together the environmental and social dimensions of their climate strategies and what policy reforms are needed to ensure that the just transition is embedded in the financial system.

The UK project started in July 2018 and will continue for a year. An initial landscape review setting out the specific UK challenge of investing in a just transition was published in February 2019. A final report will be published in summer 2019 with the aim of encouraging long-term action by investors.

Project delivery and funding

The Investing in a Just Transition UK project is being delivered in partnership with the Principles for Responsible Investment (PRI) and the Trades Union Congress (TUC). The project is funded by the Friends Provident Foundation.

Advisory Committee

Bill Adams, Regional Secretary, Yorkshire and Humberside, Trades Union Congress
Colin Baines, Head, Investor Engagement, Friends Provident Foundation
Kate Bell, Head of Economic and Social Affairs, TUC
Polly Billington, Director, UK100
Lara Blecher, Engagement Services Executive, LAPFF
Tatiana Bosteels, Director Responsibility & Head RPI, Hermes Investment Management
John Bromley, Head of Clean Energy, Legal and General
James Burrows & Candice Hampson, Big Society Capital
Noel Collings, Senior Project Officer, Leeds City Region Enterprise Partnership
Bruce Davis,Joint Managing Director, Abundance
Adam Frost, Partner, Head of New Strategy Development, Bridges Fund Management
Graeme Griffiths, Director of Global Networks & Outreach, PRI
Jen Hooke, CEO, Thirty Percy Foundation
Emma Howard Boyd,Chair, Environment Agency
Tom Knowland, Head of Sustainable Energy & Climate Change, Leeds City Council
Anna Laycock, Executive Director, Finance Innovation Lab
Adam Matthews, Director of Ethics and Engagement, Church of England
Chris Matthews, Executive Director, Leapfrog Finance
Vaidehee Sachdev, Workforce Disclosure Initiative,Share Action
Nigel Topping, CEO, We Mean Business
Steve Waygood, Chief Responsible Investment Officer, Aviva
Peter Webster, CEO, EIRIS
Helen Wildsmith, Stewardship Director, Climate Change, CCLA

Publications

Financing inclusive climate action in the UK: An investor roadmap for the just transition (October 2019)

Investing in a just transition in the UK: How investors can integrate social impact and place-based financing into climate strategies (February 2019)

Investing in a Just Transition in the UK: Project scoping and introduction report