The body representing local government pension funds is to apply more pressure to companies over climate change after partnering with activists at the 50/50 Climate Project.

The Local Authority Pension Fund Forum (LAPFF), which represents 72 local government pension schemes with £200bn in assets under management, said the new arrangement “will see LAPFF ratcheting up its engagement with companies on climate risks and its potential impact on shareholder value.”

Last week shareholders backed a climate change disclosure resolution at ExxonMobil, a development touted as a major win for those seeking improved information on companies with a heavy carbon footprint.

Kieran Quinn, chairman of the LAPFF, said: “Recent weeks have shown the power shareholders can exert on companies to take seriously the risks posed by climate change. Coming on the back of these successes and several years of effective collaborations, this partnership marks a new era in the Forum’s efforts to safeguard shareholder value against climate-change risk.”

LAPFF members have been involved recently in filing the “Aiming for A” resolutions on climate risk at Shell, BP, Anglo America, Glendora and Rio Tinto AGMs.

Aiming for A is a “coalition” of investors, including the LAPFF, that campaigns for improved action on climate change from companies, in particular extractive industries.

The 50/50 Climate Project will bolster LAPFF’s engagement with research on company risks and opportunities, analysis of corporate-board climate competencies, and involvement in campaigns to refresh boardrooms. It will also support the development of a pipeline of credible “climate-literate” director candidates.