The pooling entity for the eight Local Government Pension Scheme funds in Wales has announced a new responsible investment policy.
The Wales Pension Partnership (WPP) said the policy was developed in conjunction with its constituent authorities and will be adopted by them all.
WPP officer working group chairman Chris Moore said the constituent authorities will maintain their own responsible investment policies but that a consensus was "imperative" and "a policy representative of a broad range of investment beliefs within the pool" was necessary.
He added such policies are "vitally important not only to the administration of funds but the future of Wales" and that all stakeholders "must be represented in policy development".
Central to the responsible investment policy initiatives over the next 12 months will be the development of a specific climate risk policy. The WPP will also look to engage with its investment managers to develop RI monitoring metrics.
The eight local authority funds involved in the Welsh pool are those for Cardiff and Vale of Glamorgan, Clwyd, Dyfed, Greater Gwent (Torfaen), Gwynedd, Powys, Rhondda Cynon Taf, and Swansea City and County.
Seven local authorities have already committed to investing in a fund designed to help pension funds source social investments. Holly Roach reports
BlackRock has been appointed as the fiduciary manager for the UK Power Networks Group of the Electricity Supply Pension Scheme (ESPS).
Over the last two years, we have been engaging with companies about the presence of child labour in the cobalt supply chain.
The £45bn Border to Coast Pensions Partnership has launched its largest fund to date, with £5bn of Local Government Pension Scheme (LGPS) assets being allocated to global equity alpha.
The BT Pension Scheme (BSPS) has awarded a $1bn (£777bn) private equity mandate to Hermes GPE, to invest globally.