Policies and processes
Our policies and processes provide guidance and outline procedures for key areas of our work, such as our elections and flagship member event, RCN Congress. Browse our policies and processes by topic below.
The process for filling casual vacancies will be added to the RCN Elections - policy and processes in 2025 following a review.
RCN appointments - policy and process
RCN Elections - policy and processes
We are pleased to confirm that the RCN has a strong ethical policy which requires that the investments should be managed in a socially responsible manner. The policy states that there should be no direct investments in companies that violate the following restrictions:
- Cluster bombs and landmines – Prohibited under international treaties and not included in any portfolio managed by Sarasin.
- Adult entertainment – 5% of revenues in activities connected to adult entertainment.
- Alcohol – 5% of revenues related to the production of alcohol or 10% of revenues from the sale of alcohol related products and services.
- Armaments – zero exposure to manufacturers of whole weapon systems and 10% of revenues from sales connected to weapons systems including components, support systems and services designed for weapon use.
- Civilian firearms – zero exposure to either the manufacture or sale of civilian firearms.
- Gambling – 5% of revenues related to gambling operations or 10% of revenues from the sale of gambling related activity.
- Tobacco – zero exposure to tobacco producers, 10% of revenues derived from tobacco related products.
- Thermal coal – 5% of revenues derived from the extraction of thermal coal.
- Oil tar sands – 5% of revenues derived from the production of oil from tar sands.
- Predatory Lending - 5% of revenues for activities connected to predatory lending
In addition to our specific ethical restrictions, our Investment Manager looks to avoid investing in companies which are materially involved in ethically unacceptable practices such as:
- Corruption
- Environmental degradation
- Poor labour practices
- Breaches of human rights
- Companies which persistently, knowingly and materially breach international legal standards
Finally, our Investment Manager has been graded as an A which is well above the median average of other investment based upon the UN Principles for Responsible Investment,
Statement of investment principles
Breakdown of RCN portfolio as at 30 September 2024
| Investments | Asset Type | Value £ | Capital % |
| Bond | Sterling Corporate Bonds | 10,529,662 | 10.0% |
| Bond | UK Gilts | 7,260,749 | 6.9% |
| Bond Total | 17,790,411 | 16.8% | |
| Equity | US Equities | 48,355,354 | 45.8% |
| Equity | European Equities Ex UK | 13,203,917 | 12.5% |
| Equity | UK Equities | 4,094,781 | 3.9% |
| Equity | Asia Pacific Basin Equities Ex Japan | 2,314,218 | 2.2% |
| Equity | Japanese Equities | 2,266,645 | 2.1% |
| Equity | Global Equities | 1,745,108 | 1.7% |
| Equity | Canadian Equities | 760,351 | 0.7% |
| Equity Total | 72,740,373 | 68.9% | |
| Liquid Assets | Liquid Assets | 3,311,097 | 3.1% |
| Liquid Assets Total | 3,311,097 | 3.1% | |
| Alternative Investments | Commodities | 2,973,897 | 2.8% |
| Alternative Investments | Infrastructure | 2,514,631 | 2.4% |
| Alternative Investments | Absolute Return | 2,034,655 | 1.9% |
| Alternative Investments | Other Alternatives | 692,448 | 0.7% |
| Alternative Investments | Private Equity | 343,185 | 0.3% |
| Alternative Investments Total | 8,558,818 | 8.1% | |
| Property | Direct Property UK | 3,232,005 | 3.1% |
| Property Total | 3,232,005 | 3.1% | |
| Grand Total | 105,632,704 | 100.0% | |
The RCN Group Scheme of Delegation (SoD) outlines the framework for delegation of authority for decision making across the RCN Group. It clarifies RCN decision making and the RCN’s role in decision making for RCNi, RCN Foundation and RCN Holdco.
The Scheme explains the body who is the final decision maker and the role of other bodies, where applicable, in reaching the decision. The Scheme has been updated and this updated version was approved by RCN Council in 2024.
It displays:
- The Final decision maker - this can be RCN Council/Board or a Committee. If it is not Council, the delegated powers allow them to make the final decision.
- Who scrutinises/reviews the document(s) before they can be recommended to the final decision maker
- Who is notified of a decision that has been taken by another body, in line with the Scheme of Delegation.
These delegations are included in one overall schedule, which is a very large document. To aid transparency in sharing with our members and stakeholders, we have prepared a separate document for each body who has delegated authority. These documents are available below.
RCN Decision Making
RCN Council is the governing body of the RCN. The Scheme of Delegation explains the delegated powers and authority that RCN Council has given to Committees and Boards to assist them in decision making on behalf of the RCN membership*. This updated document clarifies the role that each Committee / Board, which are all made up of elected and appointed RCN members, has in decision making on behalf of our members.
* To note, operational decisions made by the RCN Executive Team are not included in the Scheme of Delegation.
- Council
- Group Audit Committee
- Finance and Investment Committee
- Trade Union Committee
- Professional Nursing Committee
- Governance Committee
- Group Remuneration Committee
- Group EDI Committee
- Agenda Committee
- International Committee
- Awards Committee
- Country and Regional Boards
We have also prepared three visual examples of how delegated powers work. They are:
- Decision making process for RCN membership undertaken industrial action
- Decision making process for financial activity - there is a schedule of financial limits to ensure compliance with financial regulations
- Decision that requires AGM approval
RCN's role in RCNi, RCN Foundation and RCN Holdco Decision Making
The governing documents of RCNF and RCNi are their respective Articles of Association. In addition, Service Level Agreements are in place between the RCN and RCNi and the RCN and RCN Foundation. These documents clarify decision making and delegated powers across the RCN Group. The Scheme of Delegation summarises the delegated powers for RCNi, RCN Foundation and RCN Holdco.
If you require more information please email governance.support@rcn.org.uk
