Our statement regarding investing in fossil fuels
“It’s important to clarify we do not invest in 'fossil fuels and mining' companies, but in the CAF UK Equitrack Fund, which is a UK equity index tracking fund run for charities.
“We adopt a policy of not investing directly in companies which derive more than 10% of their turnover from the extraction of thermal coal or oil from oil sands. We also engage with companies to improve their environmental performance and see our role as one of actively influencing behaviour and driving environmental improvements.”
The National Trust is committed to reducing its use of fossil fuels. Our aim is for 50% of our energy to come from renewables, as judged against a 2009 baseline, by 2020. We’re on track to meet this target by introducing ‘grow your own’ micro and small scale energy schemes using wood fuel, solar, heat pumps, hydro and wind.
We also plan to cut our energy usage by 15 per cent. Due to the widespread and often remote locations of the Trust’s operations, our staff and visitors may still be reliant on fossil fuels for some years to come. However, through our focus on improving our energy efficiency, our £35 million investment in our own renewables, our aim to reduce levels of business mileage, and our programme to manage our farmland in a healthy way, we’re confident we can reduce our carbon footprint substantially.
We are also seeking to reduce the overall carbon footprint by increasing monitoring of our investments (which show we’re 31.3% below MSCI, the benchmark for global equities) and changing how some of our funds are invested (for example, by being an early investor in Legal and General Future World Fund, which seeks to address the investment risks of climate change).