ERAFP hires 5 firms to analyze climate change risks on its portfolio

Etablissement de Retraite Additionnelle de la Fonction Publique, Paris, hired five firms to help executives better understand climate change-related risks and opportunities across its portfolios.

The €26 billion ($27.8 billion) pension fund launched a search in October, with two separate RFPs. It hired Trucost, i Care & Consult, Grizzly Responsible Investment and Beyond Ratings to measure the exposure of its equity and bond portfolios to climate change-related risks and opportunities, said a notice on its website. The hire applies to about €23 billion of assets.

The pension fund has worked with incumbent Trucost to estimate the carbon footprint of its portfolio since 2013, and in 2015 asked the firm also to include corporate and sovereign bonds in its analysis.

ERAFP also hired Carbone 4 to assist with the design of a methodology to measure, analyze and evaluate the fund’s exposure to climate change-related challenges in real estate, infrastructure and private equity portfolios. The hire relates to about £1.5 billion of assets.

Contracts will run for three years. A spokeswoman could not immediately be reached for comment.