§ Norman BakerTo ask the Secretary of State for Work and Pensions what requirement is placed or is planned to be placed upon pension fund trustees who state that account is taken of the social, ethical and environmental issues to report to members on performance and outcome. [99264]
§ Mr. McCartneySection 35 of the Pensions Act 1995 requires trustees to produce a Statement of Investment Principles in which they are required to state the extent to which social, environmental or ethical considerations are taken into account. They are also required to produce an annual investment report.
From March 2003, we are undertaking an evaluation of pension scheme trustees' investment decision-making in the light of the Myners report on institutional investment in the UK. Information on socially responsible investment will also be collected as part of this evaluation, and we will consider whether further measures are appropriate following that review.