Financial Reporting Council confirms Local Pensions Partnership Investments' signatory status for the UK Stewardship Code | Local Pensions Partnership (LPP)

View All News Back

Financial Reporting Council confirms Local Pensions Partnership Investments' signatory status for the UK Stewardship Code

Local Pensions Partnership Investments has successfully retained its signatory status for the UK Stewardship Code for the fifth year in a row.

We were pleased to receive confirmation from the Financial Reporting Council (FRC) that our submission to the UK Stewardship Code, in the form of our Responsible Investment & Stewardship Annual Report 2024-25, was successful on 26 January, 2026.

This year marks our final report under the 2020 Code, reflecting material progress in embedding stewardship across all functions.

Key highlights:

Engagement activity both directly and through our partners, included over 249 engagements across climate, human rights, governance and SDGs.
Delivered real‑world decarbonisation, with Real Estate achieving a 22% reduction in energy‑use intensity and 19% CO₂ cuts, alongside expanded renewables and improved data coverage to 98%.
Set and expanded Net Zero targets across all major asset classes, completing Phase 3 (covering indirect Real Estate, Infrastructure and Credit) and progressing toward full portfolio alignment by 2050.

Frances Deakin, Head of Responsible Investment at Local Pensions Partnership Investments, said:

“I am delighted the FRC has confirmed LPPI met the high bar set by the UK Stewardship Code. Our preparation of detailed disclosure on our approach, activities, and outcomes coincided with LGPS pooling consolidation to a concentrated timescale under the Government’s Fit for the Future programme.

New layers added to LPPI’s role in support of the LGPS in this period did not dislodge our focus on stewardship trained on achieving partner fund objectives or participation in industry debate on fiduciary and stewardship standards (SDR, UK adoption of ISSB standards and the evolution of the UK Stewardship Code being examples).

Making the grade in the final year of the 2020 code positions us well for the opportunities offered by new Code (2026). Being accountable to partner funds via disclosure that delivers assurance of the high standards LPPI embodies as a fiduciary manager is a core priority, but a more distilled and informative format which makes for less exhaustive reading and more digestible communication is something to be grasped. We hope you find plenty to interest you within our latest report”.

Read full report