Agenda

Venue: Carrick Suite, EICC, Morrison Street Edinburgh - EICC

Items
No. Item

1. Quorum Check

1.1

Quorum Check

1.1        The Convener will check to ensure a quorum is in attendance to ensure the meeting can proceed.

2. Order of Business

2.1

Order of Business

Including any notices of motion and any other items of business submitted as urgent for consideration at the meeting.

3. Declaration of Interests

3.1

Declaration of Interests

Members of the Committee and members of the Pension Board should declare any financial and non-financial interests they have in the items of business for consideration, identifying the relevant agenda item and the nature of their interest.

4. Deputations

4.1

Deputations

If any

5. Minutes

5.1

Minutes of 21 June 2023 pdf icon PDF 316 KB

Minute of the Pensions Committee of 21 June 2023 (circulated) – submitted for approval as a correct record

6. Reports

6.1

Audit Sub-Committee Convener's Annual Update ( and any referrals and recommendations from the Pensions Audit Sub-Committee)

Audit Sub-Committee Convener’s Annual Update (and any referrals and recommendations from the Pensions Audit Sub-Committee

6.2

Agenda Planning and Governance Update pdf icon PDF 2 MB

Agenda Planning and Governance Update – report by the Chief Executive Officer, Lothian Pension Fund (circulated)

6.3

Project Forth Update pdf icon PDF 1 MB

Project Forth Update - report by the Chief Executive Officer, Lothian Pension Fund (circulated)

Additional documents:

6.4

Updates to Investment Governance Arrangements pdf icon PDF 4 MB

Updates to Investment Governance Arrangements - report by the Chief Executive Officer, Lothian Pension Fund (circulated)

6.5

Lothian Pension Fund - Contract Awards and Supplier Overview (Period 1 July 2022 to 30 June 2023) pdf icon PDF 1 MB

Lothian Pension Fund - Contract Awards and Supplier Overview (Period 1 July 2022 to 30 June 2023) - report by the Chief Executive Officer, Lothian Pension Fund (circulated)

6.6

Audited Annual Report and Accounts of the Lothian Pension Fund and Scottish Homes Pension Fund (including the Annual Report by the External Auditor) pdf icon PDF 12 MB

Audited Annual Report and Accounts of the Lothian Pension Fund and Scottish Homes Pension Fund - report by the Chief Finance Officer, Lothian Pension Fund (circulated)

6.7

Stewardship and Engagement pdf icon PDF 16 MB

Stewardship and Engagement - report by the Chief Investment Officer, Lothian Pension Fund (circulated)

6.8

Business Plan and Budget Update pdf icon PDF 5 MB

Business Plan and Budget Update – report by the Chief Finance Officer, Lothian Pension Fund (circulated)

6.9

Risk & Compliance Update pdf icon PDF 3 MB

Risk & Compliance Update - report by the Chief Risk Officer, Lothian Pension Fund (circulated)

7. Motions

7.1

Motion by Councillor Burgess - LPF Investments in Oil and Gas Companies

Motion by Councillor Burgess – Lothian Pension Fund Investments in Oil and Gas Companies

“Committee:

1.      Notes given the Climate Emergency and the fiduciary duty of pension funds that it is important for the Lothian Pension Fund to be clear about its investments in companies whose principal business is oil and gas.

2.      Requests a report to the next committee meeting detailing all investments currently held by Lothian Pension Fund in companies whose principal business is in fossil fuels, for example BP, Shell, TotalEnergies, Exxon and Chevron.”

 

8. Resolution to Consider in Private

8.1

Resolution to Consider in Private

The Committee is requested under Section 50(A)(4) of the Local Government (Scotland) Act 1973 to exclude the public from the meeting for the following items of business on the grounds that they would involve the disclosure of exempt information as defined in Paragraphs 1.3 and 6 of Part 1 of Schedule 7A of the Act.

9. Private Business

9.1

Employer Covenant Review 2023

 Employer Covenant Review 2023 - report by the Chief Finance Officer, Lothian Pension Fund (circulated)

9.2

Employers Participating in Lothian Pension Fund

Employers Participating in Lothian Pension Fund – report by the Chief Operating Officer, Lothian Pension Fund (circulated)

9.3

2023 Triennial Valuation - High Level Indicative Results

2023 Triennial Valuation - High Level Indicative Results – report by the Chief Executive Officer, Lothian Pension Fund