Responsible investment

Our approach

We believe that environmental, social and governance issues can affect the financial performance of companies. We have a responsibility to take these issues seriously and where appropriate, act upon them. We have also produced a Statement of Responsible Investment Principles and the Stewardship Code.

We’ll pursue a policy of constructive engagement with companies on issues which are consistent with our fiduciary responsibilities. Our overriding obligation is to act in the best financial interests of the members of the funds. We’ll collaborate with other like-minded investors to pursue company engagement. The Local Government Pension Scheme (Scotland) Advisory Board produced guidance in a letter to Scottish Pension Funds on fiduciary duty. We also have an introductory guide to Responsible Investment Reporting and the Pensions Committee regularly receive reports at their meetings. The papers can be found at

Fund position and publications

Fund position on responsible investment and climate change.


Voting and engagement

Hermes EOS quarterly voting record

Hermes EOS public engagement report

Hermes EOS quarterly engagement record

Hermes EOS engagement plan 2020 - 2022

Hermes EOS annual report 2020

Baillie Gifford quarterly voting and engagement

Case Studies