Agenda item

Report of the Managing Director of BHE

The Board considered a report presenting for approval to the BHE Board the proposed Terms of Reference of the Investment Working Group (IWG), as endorsed by the IWG. The Chair introduced the Item and congratulated Deputy Henry Pollard on his appointment as Chair of the IWG. The Board was advised that the IWG wanted BHE to demonstrate leadership in green and impact investing, and that funding was available should consultancy be required on investment matters.

A Member commented that the relationship with the wider City Corporation would be important in this area. The Board noted that representatives from relevant areas of the wider organisation would be invited to work with the IWG as necessary, and that it was hoped substantive recommendations could be brought to the Board before March 2023.

RESOLVED – That the BHE Board, in the discharge of functions for the City Corporation as Trustee of Bridge House Estates (charity no. 1035628) and solely in the charity’s best interests:

i)              Agree the BHE Investment Working Group Terms of Reference as set out at Appendix 1; and

ii)             Note the proposed direction of travel to be adopted for the revised Investment Strategy Statement (ISS).