Barnet Council’s pension fund has been recognised by an industry-leading awards body for pioneering work in supporting the environment and careful management.

The pension fund has been nominated at the Local Authority Pension Fund Awards (LAPF) for the Investment Innovation Award for developing a ‘net zero’ portfolio – that is investing in a range of companies that collectively move our economy to one that puts no more harmful carbon into the atmosphere than takes it out.

The pension fund is also taking on a leadership role among other London councils on climate-related investing and is becoming a leading voice in London’s wider pension pool, the London Collective Investment Vehicle.

Furthermore, it has been nominated for Local Government Pension Scheme Fund of the year, after moving from deficit to being over 120 per cent funded.

The £1.6bn fund is overseen by councillors on Barnet’s pension committee on behalf of 40 local employers, including Barnet Council’s own employees.

The LAPF Investment Awards 2024 was open to council funds, major pension pools, and other industry organisations across the country.

On the news of the pension fund’s two nominations, Cllr Simon Radford, who chairs the Pensions Committee that oversees the fund, said: “I am thrilled that Barnet Council has been recognised through being shortlisted for these two awards. We have made incredible progress over the last few years working with a collegiate cross-party committee, and I want to pay tribute to our Pensions team, led by David Spreckley and ably supported by Mark Fox and Adam McPhail.

“Win or lose, being shortlisted is a tremendous endorsement of a lot of hard, painstaking work.”

Councillor Barry Rawlings, leader of Barnet Council, echoed Cllr Radford’s praise: “I was delighted to hear of the successful shortlisting of our pensions team for both awards that they were nominated for. Careful financial management, much greater transparency with the fund’s beneficiaries, and responsibility for our wider social impact embodies the approach of Barnet Council as a whole. I warmly congratulate the team for this great achievement”.

The LAPF Awards Ceremony will be held on 3rd October 2024.