Hackney Council's Pensions Committee convened on 23 September 2025, receiving updates on key areas including the migration of pension administration services and the fund's environmental impact. The meeting addressed the transfer of pension administration to the Local Pensions Partnership Administration (LPPA), alongside discussions on investment performance and climate-related financial disclosures.
The committee, responsible for overseeing the council's pension fund, acknowledged the advancements in shifting administration services to LPPA, a move aimed at enhancing operational efficiency. A quarterly pensions administration update was provided to the committee.
The meeting also covered the pension fund's performance, responsible investment strategies, and various governance issues. A key highlight was the consideration of the 2024/25 Task Force on Climate-related Financial Disclosures (TCFD) Report, which revealed a 30.3% reduction in the fund's Scope 1 and 2 carbon footprint between 2023 and 2025.
While the committee noted the carbon footprint reduction, details on how this figure aligns with the fund's overall carbon reduction targets were not provided in the meeting information.
Following the TCFD report, the committee decided to engage further with companies identified as significant emitters of scope 1, 2, and 3 emissions. The quarterly business plan and governance update included the Pensions Board Annual Report and revised Terms of Reference, alongside the Pensions Board meeting minutes from 31 July and 11 September 2025.
The committee also approved the Funding Strategy Statement and Policies, which outlines the council's strategy for ensuring the pension fund's ability to meet its future financial obligations.
Furthermore, the 2024/25 UK Stewardship Code Report was reviewed, highlighting the pension fund's adherence to principles for institutional investors in their interactions with invested companies.
