Transition Pathway Initiative Limited’s Establishment

Osborne Clarke has advised the Church of England Pensions Board and the Environment Agency Pension Fund on the formation of Transition Pathway Initiative Limited and the TPI Global Climate Transition Centre.

The Transition Pathway Initiative is backed by investors with a combined $40 trillion of assets under management or advisement and new centre will be a key part of a post COP-26 financial infrastructure to support transparency, accountability and action on climate commitments.

The TPI Global Climate Transition Centre will provide free and publicly available in-depth data on how 10,000 companies are aligning with a net zero pathway, significantly scaling existing coverage across global equity markets. The Centre will also expand to assess government bonds and corporate debt issuers.

The Centre, which is intended to be opened in early 2022, is set to be based at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science and will dramatically increase the independent assessments of companies undertaken today by TPI from 400 to 10,000. It will also scrutinise corporate and sovereign bond issuers – a vital part of the climate transition.

The Centre aims to be a critical part of the post COP26 financial infrastructure. As an indication of the growing importance of the work of TPI, the world’s largest fund manager, BlackRock announced it would be joining TPI as a supporter, taking TPI’s supporters to over 110 funds with USD $40 trillion in assets under management and advisement.

Partners Mark Wesker (Picture) and Will Robertson, alongside Associate Liam O’Connor, Paralegal Shauna Poole, Senior Associate Michael Ahyow and Trainee Solicitor Bethany Filby, advised the Church of England Pensions Board and the Environment Agency Pension Fund. Legal Director Fiona Sweeting and Company Secretarial Manager Karen Vicary assisted with the incorporation and will be providing secretarial support to the company on an ongoing basis.

Involved fees earner: Michael Ahyow – Osborne Clarke; Liam O’Connor – Osborne Clarke; Will Robertson – Osborne Clarke; Fiona Sweeting – Osborne Clarke; Mark Wesker – Osborne Clarke;

Law Firms: Osborne Clarke;

Clients: Church of England Pensions Board; Environment Agency Pension Fund;

Author: Giulia Di Palma