Lincolnshire Pension Fund and investments in Russian fossil fuel companies - Find a freedom of information request

Lincolnshire Pension Fund and investments in Russian fossil fuel companies.

1. Could you provide a link to the webpage where you hold information on your pension fund? 

2. How much money does your pension fund currently have invested in Russian fossil fuel companies? 

3. Can you break the value of investment down by type of investment (e.g: how much of it is active, passive, direct, indirect, pooled, etc)?

4. How much money did your pension fund have invested in Russian fossil fuel companies on 6th April 2022? 

5. Can you break the value of investment down by type of investment (e.g: how much of it is active, passive, direct, indirect, pooled, etc)?

6. Have you agreed a policy to divest from Russian fossil fuel investments in your pension fund? 

7. If you have agreed to divest, can you provide relevant policy documents?

8. How much money has your pension fund divested from Russian fossil fuel investments since you agreed your policy to do so?

9. If you have not agreed a divestment policy, have you agreed to freeze your investments in Russian fossil fuel companies? 

10. If you have agreed to freeze investments, can you provide relevant policy documents?

11. If you have not agreed to freeze or divest, what is your policy for Russian fossil fuel investments in your pension fund? 

12. What is the total size of investment of your pension fund? 

13. Of this total, what percentage of the total do Russian fossil fuel investments represent?

I can confirm that the information requested is held by Lincolnshire County Council. I have detailed below the information that is being released to you.

1. All publicly available Fund documents are hosted by our Administrators, West Yorkshire Pension Fund at www.wypf.org.uk :

Annual Report and Accounts: Lincolnshire Pension Fund report and accounts (wypf.org.uk)

Policy Statements: LPF index (wypf.org.uk)

Details of Investments: Lincolnshire Pension Fund index (wypf.org.uk)

2. The value of the Fund’s holdings in Russian Fossil Fuel companies at 31st December 2022 (the latest date for which data is available) is ZERO.

Note: Following the invasion of Ukraine by Russia, it has not been possible to trade Russian equity holdings due to country-level sanctions and any remaining holdings are valued at zero.

3. All investments are pooled

4. £257,338.24 Note our valuations are done at month end and the only data we have is at this point, so this value is as at 31st March 2022.

5. All investments are pooled.

6. No

7. N/A

8. Following the invasion of Ukraine by Russia, it has not been possible to trade Russian equity holdings due to country-level sanctions. Our managers have therefore been unable to divest of any existing holdings, but these holdings have a value of zero.

9. We have not agreed to freeze investments but our managers discuss the options with us and what is in the best interest of the Pension Fund.

10. N/A

11. We do not have a formal policy on Russian fossil fuel investments but have a general Responsible Investment policy agreed with our asset pool, and have regular discussion about any potentially contentious issues.

12. At 31st March 2022: £3,047,000,578

At 31st December 2022: £2,940,271,453

13. At 31st March 2022, Russian Fossil Fuels accounted for 0.008% of the fund’s investments At 31st December 2022, Russian£ Fossil Fuels accounted for 0% of the fund’s investments