Investment, Stewardship and Climate change related documents
The trustee is required by law to prepare a number of documents detailing its principles, beliefs and policies in relation to the investment of the BP Pension Fund’s assets. These documents are listed below and can be accessed via the links.
The Statement of Investment Principles (SIP) sets out how the Fund’s assets are to be invested and the principles which govern the trustee’s strategic investment decisions. The Annual Implementation Statement sets out how the policies described in the SIP have been implemented over the relevant reporting period.
The Responsible Investment (RI) policy sets out the trustee's RI beliefs and how RI is implemented across the Fund's asset classes, and through engagement, manager selection and monitoring, and reporting.
In the BP Pension Fund Net Zero Ambition Statement we state our support the goals of the Paris Agreement, and the world’s efforts to achieve global net zero greenhouse gas (GHG) emissions and limit temperature rise to 1.5 degrees Celsius above pre-industrial levels. The annual Climate Change Report sets out how the trustee identifies, assesses and manages climate-related risks and opportunities for the Fund.
In 2023, the Trustee of the Fund became a signatory to the Financial Reporting Council’s UK Stewardship Code. Signatories to the UK Stewardship Code are required to report annually on their stewardship policies, processes, activities, and outcomes. The Fund’s Stewardship Report addresses the expectations of the Code to evidence our stewardship approach with examples and case studies from the reporting year.