Decision details

The Head of Fund informed the meeting that the Local Pension Partnership was now a signatory to the Principles of Responsible Investment in place of the Fund and the London Pension Fund Authority. It was also noted that the Head of Fund and the Chair had recently been elected to the Executive of the Local Authority Pension Fund Forum.

The Committee also discussed publicising the Fund's current investments in renewable energy and Mr Rule, the Chief Investment Officer and Managing Director Investments from the Local Pensions Partnership confirmed that he would provide details of specific activity to the Responsible Investment Working Group for consideration.

During consideration of the report reference was made to the Transition Pathway Initiative which provided investors with information which they could use to assess the relative position of investee companies based on how they planned for and managed the risks associated with the transition to a lower carbon economy.

Resolved:

1.  That the updates set out in the report are noted.

2.  That the future use of the Transition Pathway Initiative by Local Pensions Partnership Investments in relation to the Fund is referred to the Responsible Investment Working Group for consideration with any recommendations to be reported to the Committee in November 2018.

3.  That the Responsible Investment Working Group consider how the Fund can best promote investments in renewable energy with any recommendations to be reported to the Committee in November 2018.