The Cornwall Community Foudnation (CCF) when investing its Endowment will continue to depend on its professional investment managers to use ethical criteria when selecting stocks and engaging with the management of companies that they invest in, ensuring that they uphold suitable standards on our behalf as shareholders. In selecting and reviewing investment managers, we would ensure adherence to such principles as being a key criterion. We believe that the long-term interests of CCF, its fund holders, and its beneficiaries are best served by engaging in the widest possible number of investment opportunities for its Endowment. We are encouraged that the UK professional investment management industry is pushing the boundaries out on E(Environmental) S (social) G (Governance) principles. The pressures to do this will continue and will consequently lead to widespread improvements in business practices across the corporate sector, both in the United Kingdom and overseas. There are also alternative funds available which exclude securities that are fossil fuel extractors. Should a fundholder wish to use such a vehicle, we would be happy to take them down this route.