The so-called Net Zero Investment Consultants Initiative (NZICI) confirmed to Net Zero Investor this morning that it has signed up XPS Pensions Group as its newest member.
NZICI said UK-based XPS, a consulting and administration business focussed on UK pension schemes, is committed to "drive change in the pensions industry by supporting pension schemes to achieve their own ambitious targets."
The NZICI's nine commitments relate to investment advisory services and business operations, including the integration of advice on net zero alignment into all investment consulting services.
The initiative is endorsed by the United Nations Race to Zero campaign and the Principles for Responsible Investment (PRI).
"Pension schemes need to take strong actions, improve transparency and make positive steps to reducing emissions," said Alex Quant, head of ESG at XPS, which serves around 1,600 pension schemes and their sponsoring employers.
He stressed that "investment consultants play a vital role in driving this change."
The commitments proposed by the NZICI align with XPS's approach to sustainability, Quant added.
In 2021, XPS became carbon neutral across its entire value chain following an audit of its greenhouse gas emissions, he said.
