LGPS pool Wales Pension Partnership is to draw up a responsible investment code, prioritising engagement over divestment.
At a meeting of the partnership’s governance committee last week, councillors agreed that the pool should ensure managers directly integrate environmental, social and governance (ESG) considerations into their processes.
There was broad agreement that managers should be required to disclose ESG information on funds.
A report drawn up for the pool said: “WPP has an ambition to demonstrate leadership on RI practices in managing assets for and on behalf of its member Funds.
“This has a potential impact on resourcing requirements for the Pool and commitments need to be balanced against resources.”
