Published on Monday, 8 November 2021 at 4:06:17 PM

We’re making changes to our Investment Policy and we’d love to know your thoughts.

The policy was last reviewed in 2017 and required updating to reflect our current practices.

Proposed amendments include:

• Deleting reference to the UBS Bank Bill Index which no longer exists;
• Explicitly stating that administration will give consideration to the non-fossil fuel status of the investment, as one of a number of equally important considerations when making investment decisions. This must be considered alongside other factors, including the purpose of the investment, the likely return, the liquidity, the aggregate value, and the cost structure.
• Deleting the requirement for additional returns generated from fossil fuel investments to be invested back into carbon abatement initiatives within the City of Vincent. This provisions is ambiguous in its application and is difficult to quantify and administer. As currently written, the City might be non-compliant with policy, however we are confident that the City is compliant with the intent of this statement given our strong commitment to carbon abatement projects.
• The addition and removal of certain words to improve the language and align terminology with other Council documents.

These proposed amendments do not change the risk profile of investments or the City's current processes relating to managing investments.

There are a number of ways you can get involved and share your thoughts.

Email us at virginia.miltrup@vincent.wa.gov.au

Call us on 9273 6000

Visit us at the City of Vincent Library, 99 Loftus Street (during office hours).

Submissions close 7 December.

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