4. Will the Commission provide an update on the ethical investment schemes of its pension fund? OQ61163

There are three pension schemes connected to the Senedd. In relation to the Members of the Senedd's pension scheme, the Commission has no means to influence the allocation of the pension scheme's assets. The power to invest the scheme’s assets sits entirely with the pension board, which is independent of the Commission.

The support staff pension scheme is run by Aviva. The Commission is not involved in deciding how the assets are invested. The civil service pension scheme, which is available to Commission staff, is an unfunded scheme and therefore has no assets to invest. Benefits are paid from tax revenues rather than from assets set aside to pay them.

I hope that that was clear enough.

Thank you very much for that response. Well, of course, Hefin will be aware that a number of demands have been made over the years on divesting from investments in unethical companies. There is great concern at the moment that the Commission pension pot, and things relating to Commission pensions, could be used to fund arms companies, and those weapons, in turn, being sold to the Israeli Government, who would then use those weapons to attack hospitals, charities, schools and so on in Gaza. So, can you give us assurance that you, as a Commission, will look into this issue and put pressure, where it is appropriate and possible to do so, on pension investors to divest from companies that produce arms?

We have the three pensions that I mentioned that the Commission is related to—or Commission staff are related to. The Members' pension is the responsibility of the pension board. So, the Commission can't directly influence that. It has got to be through the pension board. I have got some good news and bad news. The good news is that I have just joined the pension board. That's good news. The bad news is that I haven't been to the first meeting yet. But certainly what he said, I think, is worth that dialogue, and perhaps a response from the pension board to you. Perhaps you might want to write to the pension board directly with these issues. Certainly, the pension board is interested in long-term investment in companies that are likely to be sustainable and keep a strategy that is around appropriate investments.

As I said in my answer to you earlier, the issue with the support staff pension is that it's run by Aviva, so we don't have a say on that one, but, again, you might wish to write directly to Aviva with your concerns, and raise those concerns with them. And then a little bit more good news for you: the civil service pension scheme, which is available to Commission staff, is an unfunded scheme, and therefore has no assets to invest.

So, where I can help you is with the Members' scheme, and make those representations via the pension board. So, perhaps we could have a discussion—. Mike Hedges is also a member of the pension board. I'm sure we would be willing to have a discussion with you—Mike—

Yes.

—before our next meeting, and make sure that your concerns are heard loud and clear.

I'd just like to follow on from Mabon's question and ask specifically about what can be done to divest from Israeli companies in general, given that an increasing majority people are not just against, but reviled by Israel's continuing offensive in Gaza and its bloody consequences. It's long overdue that we act upon this. Many people will be horrified to learn that their pension investments may potentially be sustaining a war economy that is causing so much death and destruction for the people of Gaza. I want to know what the Senedd can do to do its part in bringing about the end of this horrific conflict and play its part in bringing about peace, humanity and a future for Palestine, through its pension schemes, but also through its procurement processes.

I think I'd refer you to the answer I gave to Mabon, but also the pension board reviews the environmental, social and governance credentials of its managers annually, and questions its advisors on the managers' approach to the environmental, social and governance issues at each pension board meeting. So, again, at the next pension board meeting, I'm happy to raise it, and I'm sure Mike Hedges would say the same thing. I'll repeat what I've said to Mabon, and what you've said is heard loud and clear.

And finally, question 5, Luke Fletcher.