A £30 billion ($39 billion) pension fund partnership is turning its back on fossil fuels investments in an effort to become more climate-aware, in the latest move by financial institutions to align their policies with commitments made under the 2015 Paris Climate Change Agreement to keep global temperature rises to well below 2 degrees Celsius (2C).

Brunel Pension Partnership, one of eight pooled Local Government Pension Scheme funds across the UK, has committed to using its influence to challenge the asset management industry, which it describes as “not fit for purpose” for addressing climate change.