It's to invest in local projects
Lewes District Council is calling on East Sussex Pension Fund to invest in more local infrastructure projects that benefit the area’s economy.
The council is a significant contributor to the pension fund which holds assets worth more than £2.5 billion and has over 85,000 members including employees of councils, education establishments and public authorities.
Councillors agreed to lobby the pension fund as part of a discussion on community wealth building, which aims to use the combined power of institutions, businesses and communities to retain and create more wealth in the local economy, creating new local jobs and new locally owned enterprises.
Councillor Zoe Nicholson, Leader of Lewes District Council, said: “This council is spearheading a community wealth building approach and embedding it across the breadth of our services, to make a real difference to the way our economy operates and bring benefits for local people.
“As part of this, we want to use our influence to develop sound investment propositions for East Sussex Pension Fund that deliver on our objectives, such as building homes, renewable energy projects or retrofitting properties, while providing financial returns.”
Since committing to community wealth building four years ago, analysis shows that council spending within Lewes district has almost doubled, rising from £5.4 million in 2020-21 to £10.1 million in 2023-24.
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