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Response by Head of Service: The Powys Pension Fund invests using pooled funds (such as via the Wales Pension Partnership (WPP)) and indirectly, through pooled investments, has exposure to a small number of Israeli based companies. The WPP does not currently exercise any exclusionary policies in respect of any stocks it can potentially invest in. The WPP appointed Robeco as the Voting and Engagement provider in 2020, which has actively been engaging with companies under its engagement theme of ‘Human Rights Due Diligence for Conflict-Affected and High-Risk Areas’, including within the Occupied Palestinian Territories. The Powys Pension Fund is also a member of the Local Authority Pension Fund Forum (LAPFF), which has also been undertaking similar work. Following the decision of the UK Government imposing financial sanctions on Russia due to its invasion of Ukraine, the WPP subsequently implemented a disinvestment of its Russian stocks.
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