Current status: Answered by Jenny Gilruth on 30 July 2026
To ask the Scottish Government what its position is on the fiduciary duty of Scotland’s local government pension funds and their obligations to community wealth building.
The Scottish Government recognises that the Scottish Local Government Pension Scheme (SLGPS) funds have a fiduciary duty to ensure that investment decisions are made in the best interests of scheme members and participating employers. This can include environmental, social and governance considerations.
The Scottish Government is working with local authorities and other stakeholders to develop guidance on delivering the objectives in the Community Wealth Building (Scotland) Act 2026. We already have an open dialogue with the SLGPS funds to explore how increased investment into projects and businesses in Scotland might be unlocked.