Decision details

A detailed report was presented to update the Committee on activity associated with responsible investment in the following areas – Voting Globally, Engagement through Partnerships, Shareholder Litigation and Active Investing.

The Chair informed the Committee of comments received from Councillor M Smith (the co-opted member representing Blackpool Council) suggesting a reduction in the level of investment by the Fund in fossil fuels, tobacco and alcohol. It was noted that the Responsible Investment Working Group was in the process of exploring how to further support responsible investment in the future and an update from the Group was presented at the next item on the agenda. 

Resolved:

1.  That the update on responsible investment activity, as set out in the Appendix to the report presented, is noted.

2.  That the comments received from Councillor Smith regarding a proposed reduction in the level of investment by the Fund in fossil fuels, tobacco and alcohol be forwarded to the Responsible Investment Working Group for further consideration.