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 companies’ long-term financial returns are connected to their strategic, environmental, social and governance performance.
The Scheme is a signatory of 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 investee 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 Trustees have appointed Hermes Equity Ownership Services (EOS) to assist in fulfilling 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 implement a high standard of stewardship on behalf of the beneficiaries of the scheme.
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