Legal & General launches sustainable property fund

Legal & General Investment Management (LGIM) has launched its Sustainable DC Property Fund.

The fund is reshaping an existing property portfolio to include responsible investing as a core target, with explicit ESG objectives, including net-zero operational carbon in the direct property portfolio by 2030. The fund is already measuring carbon emissions and has set reduction objectives in line with science-based targets.

Valued at £238 million ($322 million) as of June 30, the fund provides exposure to a diversified portfolio of assets across sectors.

On top of the specialist Real Assets ESG team, the fund has dedicated resources working to support full ESG integration in its asset management, investment strategy and decision-making.

“Real estate is central in the transition to net-zero as buildings play a major role in supporting a low-carbon economy and society,” said Michael Barrie, director of fund management for LGIM Real Assets. “The demand