Issue - meetings
UK Stewardship Code Compliance
Meeting: 24/06/2019 - Pension Committee (Item 10)
10 UK Stewardship Code 
PDF 131 KB
Additional documents:
Minutes:
10.1 The Committee considered a report on a proposal to publish a revised statement regarding the Fund’s compliance with the Financial Reporting Council’s UK Stewardship Code.
10.2 The Committee RESOLVED to approve the amended UK Stewardship Code Statement.
Meeting: 17/06/2019 - Pension Board (Item 10)
10 UK Stewardship Code PDF 131 KB
Additional documents:
Minutes:
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10.1. The Board considered a report on the proposal to publish a revised statement regarding the Fund’s compliance with the Financial Reporting Council’s UK Stewardship Code.
10.2. LW asked how the ESPF compared to comparative Funds in terms of its responsibilities as a shareholder.
10.3. OO estimated that of the 89 LGPS, ESPF would be in the top 25% in terms of the strength of its stewardship arrangements. He said ESPF is one of few funds that meets the reporting expectations for Tier 1 – Asset Owner allocation from the Financial Reporting Council (FRC).
10.4. The Chair asked whether the Fund subscribes to Local Authority Pension Fund Forum (LAPFF)
10.5. OO confirmed that the Fund is a member of LAPFF, and fund managers are recommended by ESPF to vote in accordance with LAPFF guidelines. The Fund receives a report at the end of year to see how fund managers voted. LAPFF also nominated ESPF for an Environmental, Social and Governance award.
11. The Board RESOLVED to note the report.