Clywd Pension Fund investment policies and fund management brief

Joel M Benjamin made this Freedom of Information request to Flintshire County Council

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was successful.

Dear Flintshire Council,

Recently the Guardian released information regarding the fossil
fuel exposure of the 101 LGPS pension funds to fossil fuel
investments

http://www.theguardian.com/environment/2...

Clywd was identified as having one of the lowest
fossil fuel exposures of the various local government pension
funds.

We are interested in understanding why Clywd
fossil fuel exposure (2.3%) is lower than the average fossil fuel
exposure (6%) and therefore request copies of the current
investment/ fund management brief (covering 2013/14 and 2014/ 15
financial years) governing management of the pension fund by
internal and external asset managers.

Copies of current investment policies such as environmental and
social governance (ESG) and ethical investment policies which shape
investment of the pension fund are also of interest.

Yours faithfully,

Joel M Benjamin

Flintshire County Council

Dear Mr Benjamin,

I write to acknowledge receipt of your Freedom of Information request which
has been given the reference number R010903 .

Your request has been forwarded to the Freedom of Information Act Contact
Officer for the Clwyd Pension Fund to process and this Officer will be in
contact with you.

If you send any further correspondence about this request, please include
the reference number and either e.mail it to [Flintshire Council request email], or post
it to Freedom of Information, Flintshire County Council, Legal and
Democratic Services, County Hall, Mold, Flintshire, CH7 6NA.

Regards,

Lavinia Stockham
Democratic Services/Gwasanethau Democrataidd
Flintshire County Council/Cyngor Sir y Fflint
Tel/Ffôn: (01352) 702304

From: Joel M Benjamin <[FOI #295452 email]>
To: FOI requests at Flintshire Council <[Flintshire Council request email]>,
Date: 06/10/2015 09:58
Subject: Freedom of Information request - Clywd Pension Fund investment
policies and fund management brief

Dear Flintshire Council,

Recently the Guardian released information regarding the fossil
fuel exposure of the 101 LGPS pension funds to fossil fuel
investments

http://www.theguardian.com/environment/2...

Clywd was identified as having one of the lowest
fossil fuel exposures of the various local government pension
funds.

We are interested in understanding why Clywd
fossil fuel exposure (2.3%) is lower than the average fossil fuel
exposure (6%) and therefore request copies of the current
investment/ fund management brief (covering 2013/14 and 2014/ 15
financial years) governing management of the pension fund by
internal and external asset managers.

Copies of current investment policies such as environmental and
social governance (ESG) and ethical investment policies which shape
investment of the pension fund are also of interest.

Yours faithfully,

Joel M Benjamin

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**********************************************************************
Opinions advice, conclusions and other information in this
message that do not relate to the official business of
Flintshire County Council shall be understood as neither
given nor endorsed by it or on its behalf, and consequently
Flintshire County Council shall bear no responsibility
whatsoever in respect thereof.
Deellir na fydd unrhyw safbwyntiau, na chynghorion, na
chasgliadau nac unrhyw wybodaeth arall yn y neges hon,
nad ydynt yn berthnasol i waith swyddogol
Cyngor Sir y Fflint, yn cael eu cynnig na'u cadarnhau ganddo
nac ar ei ran, ac felly ni fydd Cyngor Sir y Fflint yn derbyn
unrhyw gyfrifoldeb am y rhannau hynny o'r neges.
**********************************************************************

Flintshire County Council

2 Attachments

Mr Joel Benjamin Eich Cyf/Your Ref
Ein Cyf/Our Ref R010903
Dyddiad/Date 16/10/2015
Gofynner am/Ask for Sue Ridings; Lisa M Davies;
Belinda Allen
Rhif Union/Direct Dial 01352 702206

Dear Mr Benjamin,

Thank you for your recent Freedom of Information request dated 6th October
2015, regarding recently released information by the Guardian regarding
Fossil Fuel exposure of the 101 LGPS pension funds to fossil fuel
investments.

The Fund has a strategic allocation of 17% to equities compared to the
average of 64% for the LGPS.
The Funds actual allocation to Fossil fuels was lower than that quoted in
the recent press articles. It held £7.9m of stocks in comparison to a
total Fund Value of £1.4bn of assets, which equates to 0.56%.

Please see attached for the 2013/14 Annual Report for the Fund, and the
Statement of Investment Principles, outlining the Fund's strategy and
sustainability policy for July 2015.

           
I trust that this answers your enquiry in full, but if you are
dissatisfied with any aspect of this response please refer to the
Council's FOI Complaints Procedure below.

Yours sincerely
FOI Contact Officer

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**********************************************************************

Opinions advice, conclusions and other information in this

message that do not relate to the official business of

Flintshire County Council shall be understood as neither

given nor endorsed by it or on its behalf, and consequently

Flintshire County Council shall bear no responsibility

whatsoever in respect thereof.

Deellir na fydd unrhyw safbwyntiau, na chynghorion, na

chasgliadau nac unrhyw wybodaeth arall yn y neges hon,

nad ydynt yn berthnasol i waith swyddogol

Cyngor Sir y Fflint, yn cael eu cynnig na'u cadarnhau ganddo

nac ar ei ran, ac felly ni fydd Cyngor Sir y Fflint yn derbyn

unrhyw gyfrifoldeb am y rhannau hynny o'r neges.

**********************************************************************

References

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