I have been a member of the Cheshire Pension Fund Investment Committee for several years.

Cheshire Pension Fund administers the pension fund for local councils and many related enterprises.

I continued on the committee after becoming leader of Cheshire East Council because, although it moves slowly, the pension fund controls more than £5bn of assets and so can have a significant impact through its investment strategy.

In 2019 Cheshire Pension Fund moved £500m into a new climate factor fund, which aims to invest more in companies creating green technologies to combat climate change. Given the recent crash in the share price of oil companies this investment will have saved the pension fund money as well as being good for the planet.

I would also like to see the pension fund to use its voting power, as a major shareholder in companies, to oppose excessive pay for senior executives. At the end of the day it is the shareholders (and therefore the contributors to the pension fund) who pay for these multimillion pound salaries.

Cheshire Pension Fund is now consulting on its new Investment Strategy and Responsible Investment Policy. I believe that the new policies are a move in the right direction and include a further move away from investment in fossil fuel companies and into low carbon funds. Please comment on the consultation via the link below.

cheshirepensionfund.org/ members/about-us/consultations/ The consultation closes at 4pm on March 20.

Sam Corcoran, Labour & Co-operative Councillor for Sandbach Heath & East