Work starts on a more ethical Pension Fund Strategy

The Council's new administration has committed to changing how the Council’s pensions are invested into, to exclude companies complicit in territorial human rights violations. 

Hackney Council’s Pensions Committee has got this process underway by committing to review its Investment Strategy. 

At its meeting on Wednesday 24 June 2026, the Committee agreed to explore a new direction for the fund's investment framework, alongside aligning the Fund with the Council’s principles, community accountability and the Committee’s fiduciary duties.

The Committee will look to add a clause to the responsible investment policy to systematically exclude corporate entities operating in territories subject to adverse findings by the ICJ, UN, Who Profits? and American Friends Service Committee (AFSC) that present unmitigated material operational and legal risk to scheme members’ capital.

The Committee has also asked officers to look into how the Council will engage with  scheme members and employees in the shape of a revised Investment Strategy Statement.

"This administration was elected on a clear commitment to divest, to proactively fight for human rights, and apply the principles of our Borough of Sanctuary status across everything we do. My thanks to the campaigners, residents and pension fund members who have worked for this alongside us.

“For too long, conventional investment strategies have often prioritised financial considerations over basic regard for ethics and human rights. We want to demonstrate these priorities can, and should, work together.

“Crucially, by co-producing the shape of a new responsible investment policy with scheme members, we will help ensure those who are invested in the Fund have a say in how it is managed. It is great to see the Pensions Committee moving so quickly on this."

Zoë Garbett, Mayor of Hackney

“The Pensions Committee has a duty to its members, to secure and protect the financial future of scheme members. 

"Divestment is not at odds with robust financial management. Introducing an exclusion clause into our responsible investment policy goes alongside our commitment to a truly ethical pension fund, including mitigating reputational risks and advocating for the interests of our scheme members. 

“We know that these decisions are strongest when they are transparent, and we look forward to working closely with our scheme members to representent their perspectives. Our meetings are public, and we welcome Hackney residents’ attendance and questions.”

Cllr Izzy Castello-Cortes, Chair of the Hackney Pensions Committee

Council officers will now begin work on developing formal exclusion metrics and drafting a consultation framework. An implementation proposal will be brought back to the Pensions Committee at a future meeting.