The local authority’s pension fund has invested in the ground source heat pump technology

Major pension funds reportedly express concerns over the energy giant’s alleged scaling back of net zero targets

The deal is expected to push the company’s valuation close to $5 billion

It has set a long term goal to transition its portfolio to net zero greenhouse gas emissions by 2040

The fund will invest in a range of solar and wind power infrastructure projects that aim to deliver long-term benefits for the fund and climate change

Brunel Pension Partnership believes the finance sector is ‘not fit for purpose’ and wants investment managers to align their emissions with the Paris benchmarks by 2022

It will also no longer invest in companies that derive more than 5% of their revenue from such firms

The government intends to make the fund less vulnerable to a permanent drop in oil prices

The Environmental Audit Committee said six out of 25 industry leaders do not formally consider climate change as a strategic danger

The trustee of the $209.1 billion (£151bn) Retirement Fund will be advised on how best to mitigate investment risks stemming from climate change