Jim Cunningham – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Jim Cunningham on 2016-07-20.

To ask the Secretary of State for Communities and Local Government, if he will review the powers of local authority pensions schemes to indirectly invest in companies linked with the manufacture of cluster munitions.

Mr Marcus Jones

Investment decisions in the local government pension scheme are the responsibility of the 90 designated administering authorities in England and Wales and must be taken on the basis of expert advice and in compliance with the Scheme’s regulatory framework. Since 2000, pension fund authorities have been required to publish a statement of investment principles, including their policy on the extent to which social, environmental or ethical considerations are to be taken into account in the selection, retention and realisation of investments. The regulations also require that each statement is published locally.

We have no immediate plans to change these existing obligations, but will keep them under review.