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Responsible investment
reports

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2023/24 responsible investment report

This report demonstrates the outcomes of our approach, showing how our investment beliefs and policies translate into the decisions we make, our engagement with companies and other organisations, and how this affects our members’ money.

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2022/23 responsible investment report

This report looks at our continued journey to net zero and how we’ve escalated our own engagement with two of the UK’s major oil and gas companies, BP and Shell. It also explores our initiatives and actions taken in other areas of interest like human rights, diversity, natural capital, and big tech.

2021/22 responsible investment report

This report looks at our journey to net zero and the addition of two private equity mandates to our portfolio. It explores our current responsible investment priorities, like human capital, cyber security and the food sector, and the initiatives and actions taken in these areas.

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2020/21 responsible investment report

This report explains the latest steps we’ve taken as a long-term steward of our members’ money, which includes setting a goal to decarbonise our investment portfolio and supporting a green economic recovery from Covid-19.

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2019 responsible investment report

This report looks at how we’ve incorporated environmental, social and governance issues in our new asset classes like private infrastructure debt mandate and the rationale behind why we’ve decided to remove tobacco from our investments.

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2018 responsible investment report

This report highlights our new research which suggests pension schemes’ environmental and social credentials could be crucial to building trust and confidence among savers.

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2017 responsible investment report

This report focuses on the progress we’ve made across a range of areas in our investment approach, for example the development of a new climate aware fund to manage carbon risks in our portfolio.

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2016 responsible investment report

Our first report provides detail on why and how we invest responsibly. It touches on our engagement with companies, markets and our fund managers, and our work on issues like climate change and banking culture.