The P8 Group brings together senior leaders from some of the world's largest public

pension funds A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

to develop actions relating to global issues and particularly

climate change In common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to ...

. It is an initiative of the Cambridge Programme for Sustainability Leadership (CPSL) and HRH

Prince of Wales Prince of Wales ( cy, Tywysog Cymru, ; la, Princeps Cambriae/Walliae) is a title traditionally given to the heir apparent to the English and later British throne. Prior to the conquest by Edward I in the 13th century, it was used by the rulers ...

’s Business and Environment Programme (BEP) supported by the Environmental Capital Group (ECG) and the Nand & Jeet Khemka Foundation. The P8 Group involves ten leading global pension funds and sovereign wealth funds, including representatives from

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...

Australasia Australasia is a region that comprises Australia, New Zealand and some neighbouring islands in the Pacific Ocean. The term is used in a number of different contexts, including geopolitically, physiogeographically, philologically, and ecologi ...

and North America. They represent over $3 trillion of investment capital and as pension funds have an inherently long term focus. In November 2007 the first P8 Summit was held. This brought together leaders from eight of the world's largest public

with key experts including Vice President

Al Gore Albert Arnold Gore Jr. (born March 31, 1948) is an American politician, businessman, and environmentalist who served as the 45th vice president of the United States from 1993 to 2001 under President Bill Clinton. Gore was the Democratic no ...

and HRH

. The P8 Summit was a critical start in getting pension funds to lead in the move toward a

low-carbon economy A low-carbon economy (LCE) or decarbonised economy is an economy based on energy sources that produce low levels of greenhouse gas (GHG) emissions. GHG emissions due to human activity are the dominant cause of observed climate change since the mi ...

. Participants agreed to continue working together to address climate change, both within their organizations and as a group to influence

policy Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an orga ...

and markets. The group, at this point 10 pension funds, met again in July 2008 to further develop their strategy. At this meeting HRH

welcomed their continued "determination to put substantial money into investments that address climate change."Prince of Wales's speech
/ref> This organisation has now disbanded, and was replaced in 2010 by the P80 Group Foundation.

Members of P8

CalPERS The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".CalPERSFa ...

CalSTRS The California State Teachers' Retirement System (CalSTRS) provides retirement, disability and survivor benefits for California's 965,000 prekindergarten through community college educators and their families. CalSTRS was established by law in 191 ...

New York State New York, officially the State of New York, is a state in the Northeastern United States. It is often called New York State to distinguish it from its largest city, New York City. With a total area of , New York is the 27th-largest U.S. stat ...

British Columbia British Columbia (commonly abbreviated as BC) is the westernmost province of Canada, situated between the Pacific Ocean and the Rocky Mountains. It has a diverse geography, with rugged landscapes that include rocky coastlines, sandy beaches, ...

* AP7 * APG *UK

Universities Superannuation Scheme The Universities Superannuation Scheme is a pension scheme in the United Kingdom with £89.6 billion under management as of August 2021 (up from £67 billion in 2019). It has over 400,000 members, made up of active and retired academic and aca ...

(USS) * ACSI *Korean National Pension Fund * Norwegian Sovereign Wealth Fund

References

External links

Cambridge Programme for Sustainability Leadership
Climate change policy Diplomatic conferences in the United Kingdom 21st-century diplomatic conferences 2007 in the environment {{UK-stub

Members of P8

See also

References

External links