Fuel Poverty Action Plan

Meeting: 
MQT on 2013-09-11
Session date: 
September 11, 2013
Reference: 
2013/3193
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

Lancashire County Pension fund recently invested £12m in the world's largest community-owned solar power station. Will the Mayor liaise with the London Pension Fund Authority to consider whether similar investments in community led renewable and low-carbon projects in London could be undertaken?

Answer

Answer for Fuel Poverty Action Plan

Answer for Fuel Poverty Action Plan

Answered By: 
The Mayor

Officers are drafting a response which will be sent shortly.

 

Written response from the Mayor received 28 October 2013

The LPFA is a committed responsible investor and has invested in renewable energy and low carbon projects across Europe. One fund in which the LPFA has invested is Foresight’s Environment Fund, which is focused on recycling and waste to energy plants within London, which is helping to make the capital greener.  

 

When it comes to making an investment decision, the LPFA has certain internal required rates of return that it must achieve in order to be able to fund its liabilities.