The Head of Pensions Administration introduced the report which informed members that the 2019 Local Government Pension Scheme valuations for England and Wales has been published by the Department for Levelling Up, Housing and Communities pursuant to Section 13 of the Public Service Pension Schemes Act 2013.

The Chair stated the importance of a consistent framework when reporting on climate risk and asked for an update on this. The Director of Pensions confirmed that targets were being implemented and that the fund devising consistent ways to measure its portfolio emissions and developing ways to reduce them over time with short-, medium- and long-term goals. It was also outlined that investment in climate solutions was taking place.

Resolved – That the outcome of the Section 13 report and the specific information relating to Merseyside Pension Fund be noted.