Ms Miriam Adams introduced the report on ESG, Voting, Engagement and Stewardship Update.

Members of the Committee had no questions for Ms Adams relating to the update.

RESOLVED:

Members noted the update.

To Follow.

Ms Miriam Adams, Interim Head of Pensions and Treasury stated this was a regular report presented to the Board and Committee. She said it provided members with an overview of the stewardship activity carried out by Tower Hamlets Pension Fund’s investment managers and on its behalf by Local Authority Pension Forum (LAPFF) in the quarter ending December 2022. Referring to pages 4 and 5 of the supplementary agenda, Ms Adams stated collaborative work had been undertaken on climate change with engagement with several companies. She referred to the voting activities listed on page 6 of the supplementary agenda and said this had been a quite quarter. She drew attention to paragraph 3.17 and said both LCIV and Baillie Gifford had been invited to the next meeting of the Pensions Committee.

In response to comments and questions from Members the following was noted:

• Mr Jones said he’d be interested to learn more about the approach LCIV had with voting.
• Mr Gray added that Ruffer had not been voting in line with LAPFF alerts and that this had raised with LCIV.

The Pensions Board RESOLVED to:

Note the recommendation made to the Pensions Committee for its meeting on 13th March 2023 that:

The Pensions Committee is recommended to:

1. Note content of this report and appendices.