UK - The £30bn (US$58.7bn) Universities Superannuation Scheme (USS) has announced a substantial allocation to Climate Change Capital (CCC).
Peter Moon, chief investment officer, USS, said: "We believe the low carbon investment arena is poised for considerable growth in the coming years. As a long term responsible investor, USS holds the view that the fund should take steps to reduce the risks associated with a changing climate."
USS currently has a 5% allocation to alternatives, but has stated it intends to increase this to 20% over the medium term.
It has invested in climate change-related vehicles since 2000 and is a signatory of the UN Principles for Responsible Investments (PRI).
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