Responsible investing

The Trustees of the British Coal Staff Superannuation Scheme believe that having engaged asset owners who are clear about their expectations will help companies produce sustainable value and that their long-term financial returns are connected to their strategic, environmental, social and governance performance.

The Scheme has signed up to the UK Financial Reporting Council ‘Stewardship Code’. In order to comply with the Stewardship Code the Scheme must publish its Voting and Engagement activity with investment companies and links to these reports are provided below. Effective intervention, however, requires a deep knowledge of the underlying businesses in which the Scheme invests, which the Trustee Directors do not have. For this reason the Trustee has appointed Hermes Equity Ownership Services (EOS) to help meet its fiduciary responsibilities as a long-term shareholder of Global Equities. Oversight of the BCSSS equity shareholdings by Hermes EOS and also, where appropriate, by the fund managers that the Scheme employs, enables it to carry out a high standard of stewardship on behalf of the beneficiaries of the Scheme. 

Reports of Voting & Engagement Activity 

Voting and Engagement for the Scheme is undertaken by Baillie Gifford, Schroders and BlackRock on the funds which they manage on our behalf and by Hermes Equity Ownership Services on all other listed equities.