LGPS Multi Provider Framework for the Provision of Stewardship Services

Location

Bristol

Description

The contract was awarded to Hermes Equity Ownership Services Limited ("Hermes") under the National LGPS Framework Agreement. The scope of the contract includes the provision of stewardship and responsible investment services to support the administering authority's obligations under the LGPS Regulations. These services include engagement with investee companies, proxy voting, and reporting on environmental, social, and governance (ESG) matters.

Ammendments to Previous Notice

Award Detail

CPV Codes

• 66520000 - Pension services

Indicators

• Contract modified due to unforeseen circumstances.

Legal Justification

Brunel have extended its existing contract with Hermes for the provision of stewardship services in accordance with Regulation 72(1)(c) on the grounds of strict necessity due to the government's announcement in May 2025 regarding pooling consolidation, which has created an urgent need to maintain continuity of stewardship services across Brunel's pooled assets. Brunel does not believe that any other single provider can deliver the breadth of required services within the necessary timeframe without causing significant operational and governance risks to the business. The services provided by Hermes are integral to Brunel's responsible investment strategy and stewardship obligations, and any disruption would materially impact Brunel's ability to meet its fiduciary and regulatory duties. The scope and terms of the contract with the incumbent remain unchanged as a result of the contract extension.