Latest news & announcements

Brunel Partnership wins two prestigious environmental finance awards

Brunel Pension Partnership has been named the Pension fund of the year by Environmental Finance. It also picked up another award for ESG Initiative of the Year.

Environmental Finance (EF) is an online news and analysis service set up over 20 years ago to report on sustainable investment, green finance and the people and companies active in environmental markets. Its Sustainable Investment Awards seek to recognise those asset managers, analysts and data providers that incorporate Environmental, Social and Governance (ESG) factors in their investments.

In awarding Brunel Pension Partnership with the prestigious Pension fund of the year EF praised Brunel for its clear and broad climate policy, active engagement, and ongoing push for disclosure improvements.

The second award ESG Initiative of the Year recognises the work Brunel carried out in conjunction with consultancy Chronos Sustainability. Where they developed a climate change framework designed to achieve investment returns whilst being in alignment with the goals of the Paris Climate Agreement.

Draft Investment Strategy Statement

We are currently consulting on our draft Investment Strategy Statement (ISS) with stakeholders.  It is a technical document that is drafted to comply with LGPS regulations and guidance.

The ISS sets out how the Fund will achieve its primary strategic objective of paying the pensions due over time.  This entails balancing the risk within the portfolio between generating returns and protecting capital, recognising our responsibility as a shareholder/investor and how the Fund can contribute to resolving materially financial global issues and at the same time ensuring it maintains affordability for employers. We acknowledge it is difficult to achieve all the differing aspirations and objectives of our stakeholders; our strategy includes those that are aligned with the primary objective and where they do not increase the financial risk to the Fund and our ability to pay pensions.

This Statement incorporates changes resulting from the Fund’s most recent investment strategy review including changes to the asset allocation and the setting of climate change objectives. The setting of explicit climate objectives reflects the Fund’s belief that climate change presents a material financial risk to our assets and managing this risk is consistent with our over-arching fiduciary duty to the scheme members.

Feedback on the ISS from scheme members will be considered alongside comments from other key stakeholders such as the Pension Board, employers and trade unions ahead of the document being finalised in September.

Please submit comments by 12 August 2020 to AvonPF_Investments@bathnes.gov.uk

PDF iconDraft Investment Strategy Statement

Brunel Pension Partnership - 2020 Responsible Investment and Stewardship Outcomes Report

Brunel Pension Partnership, today issued their 2020 Responsible Investment and Stewardship Outcomes Report, acknowledging the significant contribution made by Avon alongside all of the Brunel client funds. The report gives an account of how Brunel have delivered against our joint strategic responsible investment priorities through the year.

https://www.brunelpensionpartnership.org/wp-content/uploads/2020/06/Brunel-2020-Responsible-Investment-and-Stewardship-Outcomes-Report.pdf

Don’t let a scammer enjoy your retirement

Scammers are targeting pension pots of all sizes – make sure you know how to spot the signs

Pension scammers are targeting people like you with the average victim losing £91,000 each. 

Scams are hard to spot and are often disguised with credible websites, testimonials and materials which make them look like the real thing.

To help you spot the signs and protect yourself from a scam, the Financial Conduct Authority (FCA) and Pensions Regulator suggest following four simple steps.

Brunel Pension Partnership Co-file a Shareholder Resolution at Barclays AGM

In January we published details of a landmark shareholder resolution co-filed by Brunel Pension Partnership calling on Barclays to set and disclose targets to phase out its financing of fossil fuel companies where they are not aligned with the goals of the Paris Climate Agreement. The outcome of the meeting has been hailed a success with Barclays’ own resolution winning majority support and committing them to becoming net carbon zero by 2050. The shareholder resolution won significant minority support in its own right, prompting the bank to consult with shareholders and explain the views received and actions taken publicly within six months.

The result is a great example of the power of Pooling and highlights now more than ever the value of shareholder engagement as the Fund seeks to deliver on its ambitious climate change objectives.

Further information relating to both resolutions can be found here: https://www.brunelpensionpartnership.org/2020/04/29/from-ambition-to-action-lpgs-investors-ask-barclays-to-firm-up-commitments-on-climate/

Brunel Pension Partnership’s official statement following the outcome of the Barclays AGM can be found here: https://www.brunelpensionpartnership.org/2020/05/07/barclays-climate-resolution-outcome/

Transforming our investment portfolio for a lower carbon world

We are all witnessing the impact of climate change on our lives and many of our employers have declared climate emergencies in recent months. The current global health crisis underscores the importance of mitigating such risks on a global scale. Climate change, in particular, represents a systemic risk to people, the planet, and to the investment returns which are necessary to enable payment of pensions. The need for action on the climate crisis is more critical now than ever before.

Avon Pension Fund, already recognised as a leader in Responsible Investment, has recently reviewed its investment strategy to support the transition to a greatly reduced carbon economy. The changes we have made will enable us to lower our carbon footprint and invest more capital in renewables, while preserving our ability to guarantee pension payments to beneficiaries.

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