Statement on Fiduciary Duty and Dealing with Lobbying

As one of the largest funded pension schemes in the world it is important that the LGPS continues to hold itself to the highest standards of stewardship and governance. Discussion around the content of responsible investment policies is not new and the majority of lobbying and decision-making is done in a respectful, thoughtful and transparent manner. However, the Scheme Advisory Board (SAB) is aware that LGPS administering authorities are dealing with increasing levels and extreme forms of lobbying about how LGPS funds are invested.

SAB has decided to make this statement to make clear its view on the flexibility decision makers have to respond to lobbying; the standards of behaviour expected when discussing what can be emotionally charged issues, and where to go for support if those standards are not being met.

Please find the Scheme Advisory Board Statement on Fiduciary Duty and dealing with lobbying here which was published by SAB on 17th September 2024