The voluntary set of principles provide a list of possible actions for incorporating ethical, social and governance issues into mainstream investment decision making and ownership practices. It is also hoped the principles will lead to better long-term financial returns for institutional investors.
“This is a very positive move that is consistent with the policies of the fund,” said Tim McKay, chair of the pensions and trusts committee.
“Our main aim always has to be investing employee and employer contributions in the best financial interests of members. However, this is a logical step forward given our views on responsible investment. We look forward to working with other signatories to improve decision-making on matters that affect us all.”
The move follows a review of the fund’s approach to ethical investments within its portfolio.
Other signatories to have joined the principles include the Strathclyde pension fund, the Merseyside pension fund and the London Pension Funds Authority.
DR
