Robeco appointed as Wales Pension Partnership’s voting and engagement provider
Robeco has been appointed as the voting and engagement provider for the Wales Pension Partnership (WPP), the pooling entity for the eight Local Government Pension Scheme funds covering the whole of Wales.
This appointment follows a comprehensive procurement process.
As part of the appointment, Robeco will assist WPP in developing and framing a robust voting policy which will be implemented across WPP’s GBP5 billion active equity portfolio. Robeco will also work with WPP on structuring engagement principles and undertake engagement activity on behalf of WPP, working in collaboration with like-minded partners to achieve effective results.
Furthermore, Robeco will assist with integrating industry best practice into the WPP’s investment process and decision-making framework, as well as provide ongoing training and reporting to the Local Government Pension pool and its constituent authorities.
Peter Walsh, head of Robeco UK, says: “We are extremely pleased to be working with Wales Pension Partnership as its voting and engagement provider. Winning this mandate builds on our solid traction in the local government pension fund sector and I am proud of the confidence that WPP has placed in our longstanding experience in sustainable investing. We look forward to a long and productive partnership. Together we aim to drive positive, sustainable change by leveraging on our extensive engagement and voting expertise.”
Cllr Peter Lewis, chair of the Joint Governance Committee, Wales Pension Partnership, comments: “We believe that responsible investment, alongside proactive management of environmental, social and governance issues, should result in better outcomes for WPP’s stakeholders. The appointment of Robeco is evidence of the WPP’s continued delivery of the commitments made in its Responsible Investment Policy and its vow to exercise its voting rights in line with the interest of its stakeholders, engaging with investee companies to enhance the long-term value of the Constituent Authorities’ investments within WPP.”