Decision Maker: Pension Fund Committee
Decision status: Recommendations Approved
Is Key decision?: No
Responsible Investment update
The Head of Fund presented a report on how the Fund was supported to fulfil its commitment to long term responsible asset ownership in line with the Investment Strategy Statement and the Responsible Investment Policy.
In considering the report the Committee discussed disinvestment, lobbying and shareholder voting and it was suggested that future reports should provide more detail as to the outcome of voting by Local Pensions Partnership Investments. It was also noted that the establishment of a joint Working Group on Responsible Investment with the London Pensions Fund Authority had been delayed while the Authority reviewed its responsible investment policy.
1. That the update on responsible investment activity, as set out in the Appendix to the report presented, is noted.
2. That with regard to Global Equities the Head of Responsible Investment at the Local Pensions Partnership be requested to investigate levels of expenditure by companies on lobbying Government and report back to a future meeting.
3. That an update regarding the establishment of a joint Working Group on Responsible Investment with the London Pensions Fund Authority be presented to the next meeting.
Report author: Mukhtar Master
Date of decision: 21/06/2019
Decided at meeting: 21/06/2019 - Pension Fund Committee