Agenda item

The Committee considered a report of the CGO setting out the work City Bridge Trust has done to date to encourage improved environmental practice and proposing further steps to strengthen the charitable sector’s knowledge and capacity, based on City Bridge Trust’s value of ‘care for the environment’, as set out in Bridging Divides.

The CGO introduced the report and asked Members what actions they felt the City Bridge Trust Committee could lead on. The Committee was advised that City Bridge Trust would also hold discussions with other funders about what they were doing and opportunities to work together. The Chair drew Members’ attentions to the proposals starting on page 139 and asked the Committee which they felt should be prioritised.

Members endorsed the proposals and were supportive of the direction of travel.

A Member said that they were delighted with the report and with the proposition of the City Bridge Trust providing leadership in this area, for which the entire City of London Corporation was responsible. The Member asked how City Bridge Trust planned to tie in with other parts of the organisation. Due to the importance of environmental work, prioritising actions was hugely challenging, and all proposals should be pursued as far as was possible.

The Deputy Chairman added that items l and m had also been the focus of the Investment Committee and Investment Boards, for example in the City of London Corporation becoming a signatory to the Principles of Responsible Investing (PRI) and developing an Environmental, Social and Governance (ESG) Policy. A Member added that ESG rating was now an important consideration of the Financial Investment Board in selecting fund managers, and suggested that this could be extended to grantees.

The CGO advised the Committee that the City Bridge Trust would continue to challenge trustees as they had done before. There were key officers in place that would enable and support cross-departmental action. Members would also have oversight across the piece through Committee work. The Chair added that a Climate Action task and finish group of officers had been established, led by the Director of Economic Development, which could bring different workstreams together and drive the action plan.

A Member said that they supported all the proposals put forward, and suggested organising them according to the amount of commitment required, prioritising ‘quick wins’ that would be easier to implement.

RESOLVED – That the City Bridge Trust Committee:

a)    Provide feedback, as above, on the proposed next steps for CBT to pursue on climate action; and

b)    Approve the development of a costed plan on climate action for consideration at a subsequent Committee.