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2023/24 Responsible Investment and Stewardship Highlights
We are proud to present our Stewardship Report in line with the principles of the Stewardship Code 2020.
The Stewardship Code 2020 holds us to high standards as investors, and we have been signatories of the Code since 2022. Each year, we report on our activities and outcomes, in order to re-apply for signatory status, and keep our stakeholders informed on the work we are doing.
Our investment objectives are to achieve sufficient investment returns such that there are funds available to pay the pensions as they fall due, and to meet the liabilities over the long term whilst maintaining stable employer contribution rates. As a long-term investor, we recognise the value which can be generated through stewardship activities, both in terms of reducing risk and improving returns.
This mind set is demonstrated by the following investment belief:
Stewardship and engagement are generally more effective tools than divestment in encouraging changes that will help safeguard the Fund's investments. The Fund values the benefits of working with other investors to strengthen these activities and achieve better outcomes."
We have long-established activities in this area.
Our full 2024_Stewardship_Report_v4(PDF)[1MB](opens new window) report sets out the principles of the Code and how we comply with these principles, what activities are undertaken in each area, examples of the outcomes that we have achieved, and how things have changed and improved since last year.
Alongside the full report, we have created a shorter Highlights Report, designed to make the information more accessible to a wider audience.
We hope you enjoy reading about our stewardship activities over the last year!
Responsible investment is the strategy to incorporate ESG (environmental, social and governance) factors into investment decisions.
What is Stewardship?
It is the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society (as defined by the Stewardship Code 2020).
What is Wiltshire Pension Fund trying to do?
ESG factors, including Climate Change, are important factors for the sustainability of investment returns over the long term. We need to protect the Fund's assets, so that we have enough money to pay pension benefits as they fall due, and to help keep our employers' contribution rates as stable and affordable as possible. That's why we consider these factors - we are always trying to earn strong risk-adjusted returns, and ESG factors play an important role in helping us to do that.
