The Pension Board of Greenwich Council met on Monday 20 July 2026 to discuss the upcoming year's business plan, review the previous year's annual report, and consider the fund's risk register. The meeting also included training for new members and updates on investment performance and manager activities.

Training on Private Markets

Members of the Pension Board were scheduled to receive training on private markets for new members, delivered by Blackrock. This session was intended to provide an introduction to pension fund investment in this area, with accompanying slides available in Appendix A of the report pack. A paper-based quiz related to the training was also planned to be completed and handed in at the end of the meeting.

Business Plan 2026/27

The Board was scheduled to agree the Pension Board's Business Plan for the 2026/27 financial year. This plan outlines the key workstreams for the fund, including the publication of reports and policies, the annual accounts and audit cycle, legislative requirements, member communications, consultations, funding, and investment performance. The plan aims to ensure the effective and efficient governance of the fund. It also addresses the fund's commitment to environmental, social, and governance (ESG) issues, including its net-zero target of 2040 and exploring options to achieve this more quickly.

Annual Report of the Local Pension Board 2025/26

The Board was asked to agree the Pension Board's Annual Report for 2025/26. This report details the work undertaken by the Board during the year, including reviews of the fund's conflict of interest policy, annual reports, quarterly fund performance, and strategies. It also highlights presentations from investment managers on ESG issues. The report was recommended for presentation to the Pension Fund Investment and Administration Panel for consideration at its September meeting.

Pension Fund Risk Register

A section of the Pension Fund Risk Register, covering Employer and Investment Risks, was scheduled for noting by the Board. The register is a key tool for managing risks to the fund, assessing the likelihood and impact of risk events, and outlining control measures. The report indicated that no risks within this section currently required senior management monitoring and that all areas remained within acceptable parameters.

Pension Panel Meeting Activity

The Board was scheduled to note the minutes of the Pension Investment and Administration Panel meetings held on Monday 30 March 2026. These minutes covered several key areas, including the Funding Strategy Statement and Final Valuation Outcome, the FRC Stewardship Code Compliance Report, the Pension Fund Responsible Investment (RI) Survey and Policy, the Investment Strategy Statement 2026, the Pension Fund Risk Register, and Fund Manager Performance to 31 December 2025.

London CIV Update

An update on London CIV was scheduled to be presented, providing an introduction to the organisation and its role in supporting the Fund's investment strategy. London CIV is the asset pooling vehicle for London Local Government Pension Scheme (LGPS) funds, managing approximately £60 billion of assets on behalf of its Partner Funds. The update was expected to cover its structure, services, investment approach, and progress to date, including its role in responsible investment and delivering local and UK-focused investments.

Fund Manager Performance to 31 March 2026

A report on the performance of the Royal Borough of Greenwich Pension Fund's investment managers for the period ending 31 March 2026 was scheduled for noting. This report, prepared by the Fund's investment consultant Hymans Robertson, details the performance of various investment managers across different asset classes. The report indicated that over Q1 2026, the overall fund assets increased slightly, with mixed performance across different mandates.

Fund Manager Presentation on ESG - Blackrock

The Board was scheduled to receive a presentation from Blackrock focusing on their environmental, social, and governance (ESG) activities. This presentation was intended to provide an update on Blackrock's approach to assessing climate-related risks and opportunities, and their engagement with investee companies to promote responsible business practices. This was a follow-up to previous presentations given by Blackrock in December 2023 and March 2025.