The Trustee is committed to focusing on sustainability in the management and monitoring of your savings.

• An example of this commitment in action is the Trustee putting their own Sustainable Investment Policy in place to clearly set out their climate change beliefs and approach to ensuring Environmental, Social and Governance (“ESG”) factors are considered as part of the Fund’s DB and DC investment arrangements.
• A further example of the Trustee’s commitment to sustainability is the inclusion of a sustainable global equity fund in the default strategy of the Fund’s DC section. This fund invests in companies that demonstrate strong ESG practices. Companies that fail to meet the set standards in low carbon transition and corporate governance standards may be excluded from the fund. This fund is also available to you directly as a self select option. More detail can be found in the Investment Guide.

The Fund’s default strategy has also set a target of net-zero absolute carbon emissions by 2050. The interim plan to achieve this target aligns with targeting a 1.5°C limit on global temperature increases and the Paris Agreement’s ambitions.

For more details on the Trustee’s beliefs and policies regarding sustainability, please read:

• The Statement of Investment Principles and Implementation Statement for both DC and DB
• The Sustainable Investment Policy.
• Our Responsible Investment Approach booklet.

First published October 2023