Retaining our signatory status to the UK Stewardship Code reaffirms our continued focus on active stewardship and responsible investments.
As well as caring about our members’ financial futures, we believe that we have a responsibility to consider the impact that the companies that we invest in have on the world around us.
So we’re pleased to have successfully retained our status as a signatory of the UK Stewardship Code, published by the Financial Reporting Council (FRC).
The code sets standards of stewardship for those investing money on behalf of UK pensioners and savers. We’re in good company, as many large pension schemes such as Nest, the Environment Agency Pension Fund and the MP’s pension scheme, the Parliamentary Contributory Pension Fund, have also signed the Code.
About the Code
The Code requires us and the other 253 signatories to comply with 12 principles such as creating long-term value for our members and sustainable benefits for the economy, environment and society.
Having successfully submitted our first statement in line with the FRC UK Stewardship Code in 2021, it was important to us to continue to adhere to the high standards expected by our stakeholders by addressing the areas identified by the FRC as needing further development and/or explanation.
Report highlights
One highlight which features in the report under Principle 4, is around our work integrating climate considerations into our cash and risk management strategies. This work featured as an IIGCC case study and was shortlisted for the ‘Best Climate Change Strategy Award’ at the 2022 LAPF Investments Awards.
Collaborating and listening to our stakeholders
The Avon Pension Fund has long been an advocate for active stewardship; recognising that positive engagement with companies, policymakers and the investment industry can protect and enhance the value of our assets over the long term, ultimately for the benefit of our membership.
The Fund is proud to work alongside strategic partners such as Brunel Pensions Partnership (Brunel), the Local Authority Pension Fund Forum and the Institutional Investors Group on Climate Change, recognising the breadth and depth of expertise these groups bring to bear. Collaboration is critical if we are to make genuine progress on the issues that affect us all.
Equally, it is very important that we, as a Fund, continue to drive strategy, inform policy and debate and ensure that our members views and our policies are reflected in the work Brunel and our other service providers undertake on our behalf.
Read our full UK Stewardship Code Report on the FRC website
You can find out more about how our investments make a difference here: our Responsible Investment Report