Westminster City Council’s pension fund has been granted gold standard status for its ethical investment principles and management. The scheme has made a commitment to operating more sustainably and reducing carbon emissions by 75% since 2019. It has invested in renewable infrastructure projects such as solar and wind power and supported affordable and socially assisted housing with a goal of providing 13,000 new homes that cost no more than 35% of a household’s gross income. The fund has sought to reduce exposure to investments in tobacco, alcohol, gambling, weapons, fossil fuels, and gas or electrical utilities. The commitment aligns with the council’s strategy of promoting inclusivity and diversity within the community. The application for gold standard status was managed by the Financial Reporting Council, which requires applicants to present detailed activities and outcomes reports covering the previous 12 months.
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