LAPFF and CCLA-led coalition calls for shareholder vote on climate
Investors led by the Local Authority Pension Fund Forum (LAPFF) and CCLA have written to the chairs of FTSE100 companies to ask for a shareholder vote on climate.
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The initiative aims to improve transparency, shareholder accountability, and promote constructive dialogue. These 62 global investors who signed the letter represent around £3.8trn in assets under management.
Only 4 companies in the FTSE100 have put their plans to shareholder vote in 2026, with only 13 companies doing so in the last three years. Transition planning is increasingly material for investors in light of evolving market and regulatory expectations.
Tessa Younger, better environment lead, at CCLA said: “Paradoxically, while this is now the sixth year that FTSE 100 companies have been asked to offer shareholders a vote on climate transition plans, the number doing so has declined since 2023. This is against the backdrop of an increasingly evident climate crisis and growing investor support for stronger shareholder accountability on climate transition planning. Investors recognise that a credible transition strategy is fundamental to long-term value and resilience, and an essential driver of future performance.”
Councillor Doug McMurdo, chair of LAPFF, said: “This year has brought home the real and mounting cost of climate change to the UK economy, from severe impacts on agricultural production to the billions of pounds lost as a result of extreme heat. These costs are hitting companies, investors, and communities.
He added that: “Shareholders should have a direct say on the plans that will shape business resilience and long-term value. As local authority pension funds, we know these decisions affect sustainable returns that help provide pensions for millions of people across the UK now and in the future. Companies must give shareholders clarity on how they intend to shore up their business models, alongside an opportunity to provide feedback and support.”
