Agenda item

The Committee considered a report of the Corporate Director of Resources that provided an update on the approach to Responsible Investment at Border to Coast Pension Partnership (BCPP) (for copy see file of minutes).

The Pensions Manager presented the report and highlighted that BCPP’s Responsible Investment Policy and Corporate Governance and

Voting Guidelines were originally developed in 2017 in conjunction with

all eleven Partner Funds and were due to be reviewed annually.  He noted that the Committee had previously approved the Policies and was asked to

approve the updated Policies which BCPP had reviewed with their

voting and engagement partner Robeco.

Resolved:

That the Committee

a)     Provide any comments on the Policies and the key changes highlighted in Appendix 1;

b)     Notes and approves the Responsible Investment Policy and Corporate Governance and Voting Guidelines Policy included in Appendices 2 and 3 that BCPP will operate on behalf of the Pension Fund for assets transferred into the pool;

c)     Approves the adoption of the BCPP Voting Guidelines for the Fund’s asset managers outside of the pool, and;

d)     Authorises the Corporate Director of Resources to amend the Fund’s Investment Strategy Statement (ISS) in line with the principles of BCPP’s Responsible Investment Policy.