The Wales Pension Partnership (WPP) has announced a new responsible investment policy.

WPP, the pooling entity for the eight Welsh local government pension scheme (LGPS) funds,
believes its new policy demonstrates its commitment to responsible investment and desire to be a leader in this area.

The new overarching policy was developed collaboratively by the WPP and its eight constituent authorities and will be adopted by them all. At the same time, it will allow individual constituent authorities to maintain and develop their own RI policies.

Commenting on the development of the new RI policy, WPP officer working group chair, Chris Moore, said: “Responsible investment policies are vitally important not only to the administration of our funds but to the future of Wales. We recognised how crucial it was for the WPP to establish its own responsible investment policy and aimed to ensure that all stakeholders of the WPP were represented in the policy’s development.

"Building support and gaining consensus among the constituent authorities was imperative. We needed to be sure that the policy was representative of the broad range of investment beliefs within the pool. We are thrilled to have agreement on a policy that can now be implemented on behalf of the underlying constituent authorities. We are all highly committed to seeing this new ambitious RI policy succeed.”

In its new RI policy, the WPP has agreed to prioritise a number of actions over the next 12 months, including developing a specific climate risk policy and engaging with its investment managers to develop an appropriate set of RI monitoring metrics.

Share Story: