This meeting was scheduled to include discussion of Shropshire Council Pension Fund's climate change strategy, and how the fund is monitored and governed. The committee was also scheduled to receive an update on the administration of the fund.

Shropshire Council Pension Fund Climate Strategy

The committee was scheduled to receive a report on the Shropshire Council Pension Fund’s (SCPF) Climate Strategy. The report, titled SCPF Climate Risk Management Report 2024 Public (SCPF Climate Risk Management Report 2024 Public), notes that:

Climate change is a significant financial risk to the Fund, and the Fund has a fiduciary duty to manage these risks and opportunities in line with the Paris Agreement

The report sets out the SCPF’s current progress in assessing and managing climate-related financial risks, in accordance with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).¹ The report is also scheduled to be discussed by the council's Cabinet.

The committee was also scheduled to receive a presentation about the SCPF’s Climate Strategy.

Fund Governance

The committee was scheduled to consider a report on the SCPF’s Corporate Governance arrangements (061224 Corporate Governance Report). The report summarises the findings of the corporate governance monitoring carried out during the second quarter of 2024/25, which focused on:

• Investment performance
• Risk management
• Governance and decision-making processes

The report concludes that The Fund continues to maintain a robust and comprehensive approach to corporate governance.

Fund Administration

The committee was scheduled to receive an update on the administration of the SCPF (2024.12.06 Pensions Committee Administration Update Report).

The report includes information about the Fund’s key performance indicators (KPIs). The report explains that the average time taken to process a retirement was 13 days. This is above the target of 10 days. The report says:

This has been impacted by the increase in retirements processed this quarter.

The report also notes that there has been a decrease in the number of calls answered by the pensions helpline, and that this is likely due to the recent introduction of a webchat facility.