Decision details

Responsible Investment

Decision Maker: Pension Fund Committee

Decision status: Recommendations approved

Is Key decision?: No

Decisions:

Francis Deakin, Responsible investment Officer from the Local Pensions Partnership Investments Ltd (LPPI) presented the quarterly report on Responsible Investment.

 

In considering the report the Committee discussed a number of issues including:

 

·  The effectiveness of proxy voting on behalf of the Fund at shareholder meetings as a means to progress responsible investment, especially when resolutions are lost. It was recognised that in some cases collaboration between investors presented a strong voice on issues such as responsible investment and suggested that even where resolutions were lost there could still be a cumulative impact on the future direction of the Company concerned.

 

·  It was noted that the Investment Strategy Statement would progress both stewardship of the Fund and responsible investment and that in many areas LPPI was already involved in activity required by the ISS.

 

·  It was suggested that the responsible investment policy did not adequately reflect the principles as set out in the UN sponsored Principles of Responsible Investment.

 

·  With regard to the pooling of investments it was suggested that consideration should be given to ensuring that the objectives of LPP in relation to responsible investment were aligned with other stakeholders in order to maximise the benefits of those investments.

 

Resolved:

 

1.  That the report is noted.

 

2.  That consideration be given to establishing a Working Group to explore further how the Committee could support responsible investment in the future.

 

Report author: Abigail Leech

Date of decision: 02/12/2016

Decided at meeting: 02/12/2016 - Pension Fund Committee

Accompanying Documents: