UNPRI half size We developed our first corporate governance strategy in 1995 and our first socially responsible investment strategy in 2000.

Our traditional approach to RI has been, by and large, top-down - ensuring that ESG concerns in our portfolios are recognised and addressed.

Alongside this we are rapidly developing a bottom-up approach where we exercise a preference for new investments with positive ESG criteria (always alongside sound financial criteria). We are implementing this approach through our growing Direct Investment Portfolio that was previously called the New Opportunities Fund and was created in 2010 to fund new and unusual investment ideas, many of them generated by the market dislocation in the wake of the banking and financial crisis.

In November 2015 we published a brochure to re-launch our Direct Investment Portfolio and a brochure about how we invest responsibly.

Our quarterly RI reports to Committee provide more detail on how we invest responsibly.