Governance

The Church of England Pensions Board administers a number of pension schemes and the assets of these schemes are pooled for investment purposes. This allows the smaller schemes to access economies of scale and investment opportunities that might not be available to them otherwise.

The Board's Investment Committee, chaired since July 2009 by Clive Hawkins, supervises the Board's investment fund managers and implements the investment policy set by the Board. It has the power to select, review and deselect, where appropriate, investment managers and the custodian. It also monitors investment performance and compliance with the Board's ethical investment. It meets at least six times each year.

A Statement of Investment Principles (SIP) covers the pension funds for which the Board is corporate trustee as well as for the common investment fund. It covers the strategy and management arrangements, including custody of securities, ethical factors and restrictions within which the managers operate and use of voting rights.

The Pensions Board is committed to managing its assets in a way that reflects the Church's teaching and values. We help to fund, and receive both advice and support from, the Church's Ethical Investment Group on all issues relating to the ethics of investment. We are also signatories to the UN Principles for Responsible Investment and the 2009 Investor Statement on the Urgent Need for a Global Agreement on Climate Change.