Issue - meetings

a)    The Committee considered and commented on the contents of the draft Stewardship Code submission.

b)    The Committee delegated responsibility for approving the final submission to the Head of Clwyd Pension Fund

            The Chair explained that last year the Fund was accepted as a signatory to the new stewardship code and that this formally recognised the work done by the Fund in asset stewardship. It was proposed that the Fund would reapply this year in order to maintain signatory status.

            Mr Dickson explained that the stewardship report now covers all asset classes. He highlighted on page 225 the 12 principles under which the Fund reports against the stewardship code, and explained that the report is set out to address each principle. The Fund had incorporated FRC’s detailed feedback on the previous year’s submission into the draft report. The deadline for submission is 23 October 2023, before the next Committee meeting and therefore the Committee was asked to provide any feedback and suggest changes, and delegate approval for the final version to the Head of Fund. He noted that any changes to the Responsible Investment (RI) policy agreed at this meeting would be reflected in the final stewardship report to demonstrate how the Fund is continuing to make progress while still reporting on the period ending 31 March 2023.

RESOLVED:

a)    The Committee considered and commented on the contents of the draft Stewardship Code submission.

b)    The Committee delegated responsibility for approving the final submission to the Head of Clwyd Pension Fund