Decision Maker: Pension Fund Committee
Decision status: Recommendations approved
Is Key decision?: No
The Head of Fund updated the Committee on stewardship activities associated with the Lancashire County Pension Fund (LCPF) and reported that signatories to the UK Stewardship Code were tiered according to the quality of reporting in their statement. LCPF had been assigned Tier 1 status (the highest rating) as it had provided a good quality and transparent description of the approach to stewardship and explanations of an alternative approach where necessary.
It was also noted that the Committee had agreed in December 2016 to establish a Working Group to explore how to further support responsible investment. Following the local government election in May it was proposed to establish a Working Group comprising four members (on the basis of one representative from each political group on the Committee together with a single voting coopted member) with Terms of Reference to be determined by the Chair.
1. That the report is noted.
2. That a Working
Group, comprising the following members of the Committee and with
Terms of Reference to be determined by the Chair be established to
explore how to further support responsible investment.
County Councillor S Clarke - Conservative
County Councillor K Ellard - Labour
County Councillor G Dowding - Green
Councillor R Whittle – coopted member representing Trade Unions.
3. That Francis Deakin, Responsible Investment Manager for Local Pensions Partnership Investment Ltd be invited to attend the Working Group specified at 2 above.
Report author: Mike Neville
Date of decision: 30/06/2017
Decided at meeting: 30/06/2017 - Pension Fund Committee