Decision details

The Committee resolved

·  To approve a total allocation to infrastructure of up to 5% of the Fund.  Within this it was recommended that the first priority for implementation be renewable infrastructure fund alongside a balanced fund as a means to continue and support the Fund's carbon objectives

·  To approve an allocation to renewable infrastructure of 30-50% of the total infrastructure allocation.  As the renewables market develops and it becomes clearer what level of impact the renewable infrastructure allocation can have on the Fund's carbon exposure, this level may increase.