Responsible Investment & Engagement
The Pensions Committee recognises its role as one of promoting best practice in corporate governance which it considers to be consistent with maximising long term investment returns.
Climate Change Strategy
The Climate Change Strategy (CCS) sets out Staffordshire Pension Fund’s approach to managing the risks and opportunities presented by climate change. The publication of a specific CCS demonstrates the seriousness with which the Members of the Staffordshire Pensions Committee view the potential impact of climate change on the Fund.
Climate Change Strategy PDF (331 KB) March 2023
Staffordshire Pension Fund Taskforce on Climate-related Financial Disclosures (TCFD) Report
The TCFD recommends improved transparency by companies, asset managers, asset owners, banks, and insurance companies with respect to how climate-related risks and opportunities are being managed.
The Fund’s TCFD report describes the way in which climate-related risks are currently managed. The report also discloses the results of Carbon Risk Metrics Analysis and Climate Scenario Analysis on the Fund's Strategic Asset Allocation. The TCFD report is published annually, with updated carbon metrics.
Staffordshire Pension Fund's 2023 TCFD Report (869KB) March 2023
UK Stewardship Code
The UK Stewardship Code 2020
is a voluntary set of principles that sets high expectations for how investors, and those that support them, invest and manage money on behalf of UK savers and pensioners, and how this leads to sustainable benefits for the economy, the environment and society. There are 12 principles for asset owners and asset managers. These principles cover the policies, processes, activities, and outcomes of effective stewardship.
The principles are supported by reporting expectations which indicate the information that organisations should publicly report to become a signatory. The Code has four main sections:
(a) Purpose and Governance
(b) Investment Approach
(d) Exercising Rights and Responsibilities.
The Report must be reviewed and approved by the applicant’s governing body, and signed by the Chair, Chief Executive or Chief Investment Officer, or equivalent, before it is submitted for consideration to the FRC. The Staffordshire Pension Fund 2022 Stewardship Report was approved by the FRC in August 2023 and the Staffordshire Pension Fund is now officially a signatory of the UK Stewardship code.
Staffordshire Pension Fund 2022 Annual Stewardship Report (2.21MB) April 2023
United Nations Principles of Responsible Investing (UNPRI)
The Pensions Committee policy on responsible investment (RI) is to endorse the United Nations (UN) principles of responsible investing and to encourage all its equity managers to sign up to the UN principles to incorporate environmental, social and governance issues into their investment process.
UNPRI Annual Report 2022
Local Authority Pension Fund Forum (LAPFF)
To underline Staffordshire Pension Fund's commitment to matters of corporate governance and socially responsible investment, in March 2013 Staffordshire Pension Fund joined LAPFF.
This is a voluntary association Forum which brings together most local authority pension funds and their pooling companies with assets under management of over £350bn (at the time of writing). The forum seeks to protect its members investments by promoting the highest standards of corporate governance and corporate social responsibility from the organisations they are invested in.
You can find more information about LAPFF on their website.
Staffordshire Pension Fund is a member of the LGPS Central investment pool, which manages the pooled assets on behalf of eight Midlands-based Local Government Pension Funds. See our separate page on pooling arrangements.
LGPS Central Ltd, the pooling company, has a dedicated Responsible Investment & Engagement team which supports the Fund’s stewardship activities. You can find more information about LGPS Central Responsible Investment on their webpage.
More information the Fund's investment manager's responsible investment and engagement can be found on each of the individual investment manager's websites. Please see our annual report for a full list of investment managers.