LPP will partner with Robeco’s Active Ownership team to deliver an engagement strategy across its internally and externally managed equity and fixed income assets, which will enhance LPP’s existing in-house voting and engagement activity.
Frances Deakin, Head of Responsible Investment at LPP, will oversee the development of the partnership with Robeco in liaison with Richard Savage who manages the LPP Global Equities portfolio.
The five-year agreement reflects the further development of an existing relationship with Robeco, who currently manage EUR1.7 billion for LPP over a range of asset classes including a low volatility equity portfolio with a custom carbon reduction.
Frances Deakin, LPP’s Head of Responsible Investment, comments: “LPP’s partnership with Robeco reinforces our existing strong focus on active ownership and stewardship good practice. We are a responsible investor with a track record of working to influence companies and industries directly and through targeted collaborations. Active engagement forms an integral part of seeking positive change. Robeco has 15 years of active ownership experience and the resources and expertise needed to increase the coverage and sharpen the focus of our engagement efforts which will also improve our accountability to shareholders, clients and members.”
Peter Walsh, Head of Robeco UK, comments: “LPP and Robeco both attach great importance to sustainable investing and share the belief that being active owners of the companies in which we and our clients invest contributes to both investment results and society. Robeco has worked with LPP in an investment role for a number of years, we look forward to expanding our relationship into engagement and bringing them the benefit of our knowledge and experience of the LGPS sector. Together we aim to drive positive, sustainable change by leveraging on our extensive engagement expertise.”
LPP is a responsible investor and has been a signatory to the United Nations’ Principles for Responsible Investment (PRI) since June 2018 and is a Tier 1 signatory to the UK Stewardship Code (2012), a supporter of the Transition Pathway Initiative and a participant in Climate Action 100+.