The Authority seeks to manage its investments in line with the UK Stewardship Code 2020 which defines best practice in terms of how we look after or “steward” our investments. For Asset Owners like us the code is centred around 12 principles

• Principle 1: Purpose, Strategy and Culture

• Principle 2: Governance, resources and incentives

• Principle 3: Conflicts of Interest

• Principle 4: Promoting well-functioning markets

• Principle 5: Review and assurance

• Principle 6: Beneficiary needs

• Principle 7: Stewardship, investment and ESG Integration

• Principle 8: Monitoring managers and service providers

• Principle 9: Engagement

• Principle 10: Collaboration

• Principle 11: Escalation

• Principle 12: Exercising rights and responsibilities

The Code is produced by the Financial Reporting Council (FRC) who review annual submissions by Asset Owners and Asset Managers to determine whether they meet the relevant standards. Our Stewardship Code report which is currently being assessed is available below and we will provide an update when we get the assessment results.