The LWARB Investment Committee under its current structure was established in January 2013 and it has responsibility for all LWARB infrastructure decisions (subject to the Board’s ‘call in’ rights and within the scope of the Board’s Investment Framework). The Terms of Reference for the Committee may be seen below.
The Committee is made up of six voting members (three members of LWARB and three externally appointed members) plus five non-voting representatives from key stakeholder organisations (see below for details).
The investment committee’s main roles are:
- To make infrastructure investment decisions on behalf of the Board;
- To review infrastructure project proposals for potential investment by the Board, taking into account the ability of such projects to fulfil the Board’s objectives;
- To provide advice to Officers of LWARB on financial structuring, portfolio strategy and finance documents;
- To approve changes to LWARB’s position on particular infrastructure projects if there is a material adverse change to an investment or commitment;
- To oversee the monitoring of approved / funded projects;
- To report funding decisions to the Board;
- To provide technical and policy advice to the Board on its investments and their respective performance.
Melville Haggard – (Chair) – LWARB Board Member
Barbara Anderson – LWARB Board Member
Cllr Nicholas Paget-Brown – LWARB Board Member
Steve Hacking – External Member
See here for biographical details of voting members.
Senior officers from the following organisations attend as non-voting members.
Greater London Authority (Doug Simpson)
London Councils (Katharina Winbeck)
Environment Agency (Michael Flynn)
East London Waste Authority (Mark Ash)
Defra (Tony Hitching)
Please note that meetings of the Investment Committee will usually be held in private, as confidential information will be discussed.
Section 18 (2) and (3) of The London Waste and Recycling Board Order 2008 allow the exclusion of the public from Board and Committee meetings where confidential or commercially sensitive information is to be discussed.