The Director presented the regular quarterly report on Responsible Investment Activity for Members to note and comment upon.

The Chair noted that members have attended workshops and the Border to Coast Conference which focused on Responsible Investment where they have been very much involved and have engaged in thorough questioning.

Members queried the Authority’s intentions in the investment in ESG and whether this was for ethical reasons or financial gain so the message could be relayed to Stakeholders.

The Director responded that the Authority is not an ethical investor but instead a responsible investor, who seek to invest in things where risks are effectively managed. Reflecting on ESG issues in investment decision making is an approach faimed at protecting the value of the Authority’s investments and the value of scheme members pensions savings.

RESOLVED: Members noted and accepted the report.