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• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

Then I would like to conclude by pushing you to go further and to be public with people like us and, indeed, the 70,000 contributors so that in things that, as it were, I get, I can see you living out what you say your policy is, which is in the question, that you are progressively improving over time. Currently, I do not see that, and I think you should.

• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

Thank you, and I welcome you and thank you for coming. This is an important topic if not one that the media particularly get very excited about. This question is all about socially responsible, ethical investment, and you will be aware that there is quite a debate as to whether there is a choice to be made between returns and ethics. My own view and what is behind this question is that if one is positively engaging - which is, I think, what your strategy is - then the two agendas come together, because the long term sustainable return is...

• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

So if you have an approach or a strategy around engagement on these sorts of issues, is that in the public domain? Again, I could not find if you are engaging, which is the right strategy, what you are actually engaging on. And if you do not, will you promise to put that in the public domain?

• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

I think that would be very helpful, and I think certainly we would like it. I suspect the pensioners and prospective pensioners, would also like it, because then they can at least get into a dialogue with you. The fourth thing that the Fair Pensions organisation asks for is to incorporate your approach to responsible investment into your investment mandates and into your fund manager selection and monitoring. Do I take it from what you said that you do do that?

• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

Can I just ask you to confirm you're responsible investment stamps, and what I would regard as a false choice between returns and responsible investment? If we cast this less in terms of not investing in so called bad things, and more in terms of investing in good things that will contribute to long term sustainablity, is that a summary of your position? My colleague, Jennette [Arnold] has rightly given me some evidence to say that ethical investment can outperform mainstream, but my hunch is that is ethical as defined in terms of sustainable, rather than screening out the bad...

• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

So if you are in a position to put our money behind, as it were, good things going forward, just picking up this particular question in terms of responding to lobbying, crudely, what role does the Mayor play - we have touched on the Board appointments - but in terms of saying, `Well, look, these are our strategies for London, these are the things that we think are going to make London and the wider economy sustainable'?. What attention do you pay to GLA strategies for example?

• Reference: 2007/0006
• Question by: Mike Tuffrey
• Meeting date: 17 January 2007

According to the LFPA Statement of Investment Principles LFPA's investment managers are required to: 'demonstrate that the content, monitoring and effectiveness of their socially responsible investment policies and procedures progressively improves over time.' Can you demonstrate this to us?

• Question by: Geoff Pope
• Meeting date: 18 January 2006

Was it your suggestion, the sums of money you were going to acquire as a consultant and the one-off payment? If you add up the sums, as far as we know, you will be earning in the first two years just as much as you were before, but working less. Was that your terms or was that the Mayor's terms?

• Question by: Geoff Pope
• Meeting date: 18 January 2006

How will that work on the PPP? It is critical that that is renegotiated for the benefit of Londoners. You will be developing your thoughts and providing advice, but then your contract ends some two years before the actual negotiations. When the Mayor announced your position, he made it quite clear that the renegotiations for the PPP would be one of your key roles.

• Question by: Geoff Pope
• Meeting date: 18 January 2006

Without your line responsibility, you will be able to get much more done in 90 days. When we take on board the fact that you said you had built the world's best management team for transport, it is starting to feel as though it is getting a bit overcrowded with expertise and the best guys around at the top there. We are concerned about this. Is there not a risk that the role of Commissioner, which was obviously important in the early days, is now getting rather squeezed?