Decision details

The Committee considered a report on how the Fund was being supported to fulfil its commitment to long term responsible asset ownership in line with the approach set out in the Investment Strategy Statement and the Responsible Investment Policy.

Earlier Mr R Branagh, Managing Director from the London Pension Fund Authority, had reported that as the Authority was in the process of reviewing its responsible investment/climate change policies and filling a vacancy of its Board it was unlikely to be in a position to take part in any joint Working Group on responsible investment for at least 6 months.

Resolved:

1.  That the updates on responsible investment activity associated with supporting the Fund to fulfil its duty to act in the best long term interests of Fund beneficiaries are noted.

2.  That the Fund does not become a signatory to the new UK Stewardship Code (2020) and instead recognise that the regulatory and stewardship requirements are met through the Local Pensions Partnership Investments being a signatory.