Enfield Council has drawn up plans to make its pension investments more environmentally friendly.

The pension policy and investment committee is set to consider shifting some funds to greener alternatives to support a transition to a low-carbon economy.

It is being asked to “consider and approve moving all the fund’s passive equity exposure to track a low carbon index strategy”.

It will also consider options to make an active investment of around five per cent of the fund’s total assets in a sustainable or fossil fuel free global equity mandate, with another five per cent in a renewable energy or clean energy fund.

The council declared a climate emergency in July last year and has set a target to become carbon neutral by 2030.

It has previously come under pressure to withdraw all of its pension funds from fossil fuel assets, which contribute to climate change.

The council claimed in February last year that the amount of pension money indirectly invested in fossil fuels is around £18 million – just 1.8 per cent of its total value.

Councillors will decide whether to go ahead with the changes to the scheme at a meeting of the pension committee on Thursday, February 27.

The meeting will take place at 9.30 am at Enfield Civic Centre.