WPP statement on exclusions and divestment
WPP statement on exclusions and divestment
The Wales Pension Partnership (WPP) takes its responsibilities as an asset owner seriously. We aim to be responsible stewards, and work closely with stakeholders to make sure our investments reflect our values and legal obligations. We build environmental, social and governance (ESG) factors into our investment and stewardship work. This covers issues such as climate change, human rights and violations of international law.
We are committed to listening to, understanding, and responding openly and responsibly to our members’ concerns, following our legal duties and the latest guidance from the LGPS Scheme Advisory Board.
We take a multi-layered approach to stewardship. Robeco is our appointed Voting and Engagement Provider, and we are also members of the Local Authority Pension Fund Forum. Both parties engage with companies on our behalf to drive improvements in practices and reporting, and to help us reduce risks in our investments. We receive regular reports on their progress, which guide our decisions. If engagement with a company that does not reflect our values and legal obligations fails, we discuss potential courses of action with our investment managers, with divestment as a possible outcome.
Some of our investment strategies already have specific exclusions, meaning we don’t invest in companies involved in, for example, tobacco, palm oil, controversial weapons and coal mining. We are currently reviewing our investment framework, including exclusions that could apply to all WPP investments, where possible. We expect to finish this review by early 2026.