About Us
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As our business continues to grow, PIC is becoming an increasingly visible presence across the UK’s economy and society. Not only are we paying £2,072 million a year in pension payments to our policyholders, but the assets we invest in to support these payments help to make the economy greener, provide social housing, regenerate our cities and support our education system for the benefit of younger and future generations.
As asset owners we look at sustainability as part of the whole investment picture. We evaluate a number of risk factors on each and every investment decision we take.
Purposeful and long-term investments mean that we have always considered financial and non-financial risks – including ESG factors. This covers things like:
How we focus on long-term value creation underpins our approach to Environmental, Social and Governance ('ESG') issues.
The total value of our sustainable assets is £11.4 billion.
(as at 31 December 2023)
Need more information on PIC's responsible investment approach? Download our key documents here to discover more.
Sustainability is fundamental to delivering PIC's purpose, to pay the pensions of our current and future policyholders.
Our business can only work the way we do by looking long-term.
Our purpose is to pay the pensions of our current and future policyholders. The guaranteed pensions of all of our policyholders is backed by a purposeful investment strategy. As risk-averse investors, the strategy prioritises the management of key risks, including Environmental, Social and Governance and climate risk.
"PIC is a company you can trust. They are professional, serious, clear. Clarity of communication is excellent."
Carbon neutral as a business by
We have committed to being carbon neutral as a business by 2025
Net Zero across all emissions by
We have committed to being Net Zero across all emissions by 2050
Reduced Scope 1 and 2 emissions intensity by
During 2022 PIC reduced its Scope 1 and 2 carbon emissions per Full Time Employee (“FTE”) by 18%
Decrease by 2030 from
2019 levels
PIC is committed to
decreasing the investment
portfolio’s average carbon
intensity (tons CO2/£m
revenue) by 50% by 2030
from 2019 levels
Decrease by 2025 from
2019 levels
PIC set an interim target of decreasing the average carbon intensity of investments in publicly-listed corporate credit by 25% from 2019 levels by 2025
Weighted Average
Carbon Intensity
(“WACI”)
Tons CO2e/£m revenue
The weighted average carbon intensity of PIC’s portfolio represents 78% of investments and this is a 14% decrease compared to 2021
Temperature alignment of
for public corporate credit portfolio
PIC’s public corporate credit portfolio is aligned to a 2.08°C temperature rise, with 70% of reporting corporates on a trajectory of 2°C or below
