ADVANCE SUSTAINABLE INVESTMENT APPROACH

Size: px
Start display at page:

Download "ADVANCE SUSTAINABLE INVESTMENT APPROACH"

Transcription

1 ADVANCE SUSTAINABLE INVESTMENT APPROACH July 2018

2 CONTENTS What is sustainable investing?... 1 What are ESG factors?... 2 Our beliefs... 2 Our approach to sustainable investment Investment process Engagement & proxy voting ESG exclusions Reporting, advocacy & research... 4

3 What is sustainable investing? Sustainable investment adopts a long-term approach, seeking to add value or manage risks through a broader, more comprehensive approach to investment. This includes the integration into investment processes of environmental, social or governance (ESG) factors alongside more traditional measures of financial performance (which is known as ESG integration). It also includes a focus on how components of the stewardship responsibilities of asset ownership are executed, specifically engagement with companies on ESG matters and proxy voting. Whilst Advance refers to this approach as sustainable investment, this term is often used interchangeably with responsible investment across the industry. How does sustainable investing relate to our investment philosophy? Sustainable investment is aligned to our investment philosophy through two key tenets: the balance of risks and expected return, and our long-term approach to investing. Our Investment Philosophy is based on the following 4 key principles that guide the way in which we think as an investment manager. Markets are not fully efficient creating opportunities that can be exploited We believe it s possible to extract value, to varying degrees across markets and over time through the use of both active and passive strategies. Diversification is key to a sound investment strategy Diversification across multiple facets including stocks, managers and strategies ensures a smoother, less volatile outcome for investors. Investing involves balancing risks and costs associated with expected return Understanding not only which risks we are exposed to but also the expected reward, total exposure, costs associated with and how best to manage such risks. Successful investment outcomes require a disciplined, systematic and long-term approach Combining a longer term strategic view, efficient execution and a robust, repeatable and sensible investment process. Consistent with our long-term approach, as an investment manager we seek to apply Humility & Patience to our investment practices. 1

4 What are ESG factors? ESG is the term used by capital markets and investors to refer to a range of non-financial performance indicators of companies. ESG risk is the risk to a fund s performance and ability to meet its long-term objectives of maximising return for a given level of risk, due to failure to recognise or address material existing or emerging ESG factors. Below are some examples of typical ESG factors: Typical ESG factors ENVIRONMENTAL SOCIAL GOVERNANCE Air and water pollution Biodiversity Diversity and equal opportunities Employee engagement Anti-competitive behaviour Audit committee structure Our approach to sustainable investment We have a well-established model for integrating ESG factors, including integration into the investment process through investment manager selection and mandates, engagement and proxy voting, reporting, advocacy and research. In certain cases we may also exclude certain activities and companies from our investible universe on the basis of ESG risks and/or client preferences. This activity is undertaken within the investment team supported by dedicated ESG service providers and asset consultants including Hermes Equity Ownership Services (EOS) and Regnan Governance Research & Engagement (Regnan). Climate change Government and community engagement Board composition Sustainable Investment Deforestation Human rights Bribery and corruption Energy efficiency Indigenous rights Compliance Waste management Labour standards Executive remuneration Investment Process Water scarcity Product safety and liability Stakeholder engagement Reporting Advocacy & Research Engagement & Proxy Voting Our beliefs We believe the active consideration of ESG factors in the investment analysis and decision-making process enhances our ability to meet the long-term investment objectives of our funds and provides greater insight into investment risks across time frames. Proxy voting and engagement with the companies in which we invest is fundamental in driving positive portfolio outcomes. We believe in being transparent in our approach and progress. ESG Exclusions Our beliefs and actions in relation to the integration of ESG factors are supported by an established body of research and industry evidence that supports the case for greater examination of ESG factors. 2

5 1. Investment process The level of ESG integration and an individual investment manager s capabilities form an important part of our manager selection process. During the manager selection process and on an ongoing basis, we undertake a formal assessment of a manager s level of ESG integration and resourcing and how that might influence investment outcomes by undertaking desk-based research and meeting with key investment and ESG personnel. Managers are assessed on their: > > Approach to ESG including associated policies; > > People and resources, including ESG research sources; > > Integration of ESG into the investment process, including examples of how ESG matters have impacted or are likely to impact the management of the portfolio; > > Their engagement with companies and proxy voting; and > > Transparency, reporting and advocacy. This formal assessment has a direct bearing on the final assessment of a manager s suitability for the portfolio. We encourage our investment managers to include ESG factors in their investment processes, in addition to having ongoing dialogue around ESG issues. Once appointed, where relevant, specific terms regarding ESG practices are included in the investment mandates. This includes: > > Endeavouring to act consistently with the Principles of Responsible Investment (PRI); > > Acknowledging that ESG issues have the potential to impact investment risks and returns; > > Acknowledging that considering these issues alongside traditional factors in investment decision-making can improve long-term risk-adjusted returns; and > > A requirement for ESG specific reporting. We monitor investment managers on ESG integration on a regular basis, along with ad hoc engagement where there is a material ESG risk, such as a controversy in a security held in the portfolio. 2. Engagement & proxy voting We are active owners and undertake engagement with companies and proxy voting to drive positive portfolio outcomes. Voting rights are exercised with the primary objective of upholding the interests of investors by protecting and enhancing the value of portfolio assets. The underlying investment managers generally undertake proxy voting on our behalf, in line with our proxy voting policy, and we are committed to working with managers to ensure voting rights are exercised appropriately. For contentious issues, such as shareholder proposals, we may consider expert external views and decide how to vote across all holdings. Engagement involves a dialogue with directors and senior management of invested companies with the goal of achieving positive change in areas such as business practice, risk management, governance, sustainability and disclosure to improve long-term shareholder value. It can also involve discussions with regulators, professional bodies and others. As universal owners, large institutional investors have the ability to influence companies and foster engagement through their growing assets under management and long-term investment horizon. There is growing evidence of the link between engagement and improved long-term value generated through higher annualised returns and/or reduced downside risks. We use a combination of engagement approaches. We primarily engage through Hermes EOS (global shares) and Regnan (domestic shares), and also through both our active and passive investment managers. Hermes EOS and Regnan s engagement approaches use pooled assets to provide a higher level of influence, along with economies of scale. We are also involved in collaborative engagement efforts, such as the Climate Action

6 3. ESG exclusions As an institutional investor our investment decisions can impact the wider economy. We believe that positive outcomes can be more appropriately achieved through ESG risk management and company engagement, rather than blanket screening of certain types of investments. To this end, our preference is to influence the behaviour of companies in which we invest through engagement and proxy voting, with a view to working with boards and management to address material ESG issues. In certain circumstances, and considering our clients preferences, where it is deemed not feasible to influence a company through engagement or proxy voting, we may consider excluding certain securities or industries as an appropriate way to manage risks, where activity undertaken: > > Is unlawful in the relevant jurisdiction; > > Would lead to a contravention of international treaties or conventions ratified by Australia; and/or > > Is a severe breach of accepted business standards. Prior to exclusions being exercised, consideration is given to the impact of exclusions to the investment funds ability to meet investment objectives. A list of activities we currently exclude is provided below but may change from time to time: > > Growing and production of tobacco; > > Production of controversial weapons, including antipersonnel mines, biological and chemical weapons and cluster weapons; and > > Severe breaches of international norms such as the UN Global Compact principles. More detail on each of these activities can be found in the BT Financial Group (BTFG) Responsible Investment Position Statement. These exclusions only apply to Australian and international shares exposures where we have an investment management agreement with the investment manager. Exclusions generally do not apply to investments in pooled vehicles over which we cannot exert our influence to implement this approach. 4. Reporting, advocacy & research BTFG is a signatory to the PRI. BTFG undertakes a range of reporting, including annual reporting to the PRI, a public version of which is made available on the PRI website. A significant component of the BTFG PRI response relates to the activities of Advance. We also publicly disclose proxy voting records for some funds. Advance and BTFG are involved in advocacy and research through the following organisations. These may change from time to time. > > Investor Group on Climate Change (Australia and New Zealand) > > Willis Towers Watson Thinking Ahead Institute > > Principles for Responsible Investment Australian Network Steering Committee > > Member of Responsible Investment Association of Australasia > > CDP (formerly Carbon Disclosure Project) Carbon Action Signatory > > Financial Services Council ESG Working Group We recognise that sustainable investment is evolving and we seek to influence its development through collaboration with other investors. This document aligns to and is consistent with the BT Sustainable Investment Approach for internally managed investment options. 4

7 Advance Asset Management Customer Relations advance.com.au This document has been issued by Advance Asset Management Limited ABN AFSL No (Advance). This document contains general information only and has been prepared without taking into account the objectives, financial situation or needs of any particular person. It is not intended to constitute investment, legal or taxation advice and should not be considered or relied upon as a comprehensive statement on any such matter. Before acting on the information, a person should consider its appropriateness, having regard to their objectives, financial situation and needs. Whilst every effort has been taken to ensure that the assumptions on which the outlooks given in this document are based are reasonable, the outlooks may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. Past performance is not a reliable indicator of future performance. Information from third parties is believed to be reliable however it has not been independently verified. While the information in this publication is given by Advance in good faith, it does not warrant that it is accurate, reliable, free from error or omission. Advance is a member of the Westpac Group. An investment in a managed fund issued by Advance does not represent an investment in, deposit with or other liability of Westpac Banking Corporation ABN or any other member of the Westpac Group. Subject to any terms implied by statute which cannot be excluded, neither Advance nor any other company in the Westpac Group and their directors, employees and associates accept any responsibility for errors in, or omissions from the information. Current as at July AD17765B-0418tc

Responsible Investment Position Statement.

Responsible Investment Position Statement. Responsible Investment Position Statement. October 2017 BT Financial Group ( BTFG ) provides wealth management services to Australians across superannuation, insurance, investments and advice. Our mission

More information

ESSSuper Responsible Investment Policy

ESSSuper Responsible Investment Policy ESSSuper Responsible Investment Policy June 2017 Responsible Investment Policy 1. ESSSuper mission To help our members who make, or have made, an essential contribution to the community, achieve their

More information

NGS SUPER RESPONSIBLE INVESTMENT POLICY

NGS SUPER RESPONSIBLE INVESTMENT POLICY Your fund. Your wealth. Your future. NGS SUPER RESPONSIBLE INVESTMENT POLICY Managing long term risks in order to maximise prospective long term returns EXTRACT FROM RESPONSIBLE INVESTMENT POLICY DOCUMENT

More information

1 Purpose and objectives of the policy

1 Purpose and objectives of the policy Date of this Policy: 27 March 2018 The information in this document forms part of the following Product Disclosure Statements: Cbus Industry Super Product Disclosure Cbus Sole Trader Product Disclosure

More information

MYLIFEMYMONEY Superannuation Fund

MYLIFEMYMONEY Superannuation Fund CSF Pty Limited (ABN 30 006 169 286) (AFSL 246664) MYLIFEMYMONEY Superannuation Fund Responsible Investment Policy September 2017 Responsible Investment Policy Contents Page Contents 1. Fund Objectives...

More information

Responsible Investment Policy

Responsible Investment Policy Responsible Investment Policy September 2017 1. Purpose BT Funds Management (NZ) Limited (BTNZ) is the investment manager for a range of investment products including the Westpac KiwiSaver Scheme, Westpac

More information

Environmental, Social and Governance (ESG)

Environmental, Social and Governance (ESG) Environmental, Social and Governance (ESG) Sustainable and Responsible Investment Policy for ODIN FORVALTNING Versjon 1.4 2017 Innhold 1. Introduction...3 2. Objective...3 3. Integrating ESG into our investment

More information

ESG AND RESPONSIBLE INVESTMENT PHILOSOPHY

ESG AND RESPONSIBLE INVESTMENT PHILOSOPHY ESG AND RESPONSIBLE INVESTMENT PHILOSOPHY February 2017 AMP CAPITAL ESG AND RESPONSIBLE INVESTMENT PHILOSOPHY 1 AMP Capital is one of Asia Pacific s largest investment managers. We have a single goal in

More information

PRI Reporting Framework Main definitions 2018

PRI Reporting Framework Main definitions 2018 PRI Reporting Framework Main definitions 2018 November 2017 reporting@unpri.org +44 (0) 20 3714 3187 Table of Contents Introduction 2 ESG issues 3 Active/ Passive investments 4 ESG incorporation 5 Active

More information

Policy for Responsible Investments Adopted by the Board of Directors of the Management Company on 13 September 2018

Policy for Responsible Investments Adopted by the Board of Directors of the Management Company on 13 September 2018 Policy for Responsible Investments Adopted by the Board of Directors of the Management Company on 13 September 2018 The purpose of this policy is to set the direction of Handelsbanken Fonder s work on

More information

RESPONSIBLE OWNERSHIP Engagement Policy

RESPONSIBLE OWNERSHIP Engagement Policy RESPONSIBLE OWNERSHIP Engagement Policy 16 April, 2018 2018 Northern Trust Corporation northerntrust.com This policy covers the below funds: NORTHERN TRUST INVESTMENT FUNDS PLC: The NT Europe (ex-uk) Equity

More information

Policy for responsible investment

Policy for responsible investment v Policy for responsible investment Adopted by the Board of Xact Kapitalförvaltning AB (hereinafter referred to as the fund management company or Xact Kapitalförvaltning) 31 May 2017. Value base It is

More information

Responsible Investing Policy

Responsible Investing Policy Responsible Investing Policy Prepared September 2018 Version: 4.0 Issuing details: Prepared by: Suzanne Branton Chief Investment Officer Approved by: Board of Directors, CARE Super Pty Ltd Date of Approval:

More information

Policy for Responsible Investments Adopted by the Board of Directors of the Management Company on 30 may 2017

Policy for Responsible Investments Adopted by the Board of Directors of the Management Company on 30 may 2017 May 2017 Policy for Responsible Investments Adopted by the Board of Directors of the Management Company on 30 may 2017 The Policy has been decided by the Board of Directors and is a written policy that

More information

Corporate Governance Policy for Xact Kapitalförvaltning Adopted by the Board of Directors of Xact Kapitalförvaltning AB on September 26, 2018.

Corporate Governance Policy for Xact Kapitalförvaltning Adopted by the Board of Directors of Xact Kapitalförvaltning AB on September 26, 2018. Corporate Governance Policy for Xact Kapitalförvaltning Adopted by the Board of Directors of Xact Kapitalförvaltning AB on September 26, 2018. The Corporate Governance Policy and its purpose Xact Kapitalförvaltning

More information

ESG Risk Management Policy MLC Nominees Pty Limited PFS Nominees Pty Limited (the Trustees )

ESG Risk Management Policy MLC Nominees Pty Limited PFS Nominees Pty Limited (the Trustees ) MLC Nominees Pty Limited PFS Nominees Pty Limited (the Trustees ) Policy Administration Information Schedule Policy Name ESG Risk Management Policy Version Number 1.0 Approval Date 26 June 2014 Effective

More information

Responsible Investment Policy

Responsible Investment Policy Avon Pension Fund Responsible Investment Policy November 2016 Avon Pension Fund Responsible Investment Policy Introduction and Purpose The Avon Pension Fund ( Fund ) is a long-term investor. Our aim is

More information

Marks and Spencer Pension Scheme - Responsible Ownership Policy Statement GENERAL APPROACH Marks & Spencer Pension Scheme ( M&S PS ) believes that

Marks and Spencer Pension Scheme - Responsible Ownership Policy Statement GENERAL APPROACH Marks & Spencer Pension Scheme ( M&S PS ) believes that Marks and Spencer Pension Scheme - Responsible Ownership Policy Statement GENERAL APPROACH Marks & Spencer Pension Scheme ( M&S PS ) believes that having engaged owners who are clear about their expectations

More information

Responsible Investment Policy Framework

Responsible Investment Policy Framework Responsible Investment Policy Framework April 2016 CC&A/Corporate Citizenship Contents 1. Introduction 3 1.1 Objectives 3 1.2 Mandate 3 1.3 Scope 3 1.4 Foundation 4 1.5 Structure 4 2. Responsible Investment:

More information

Insights. Market Update by Riccardo Briganti New financial year super strategies The rise of sustainable and impact investing.

Insights. Market Update by Riccardo Briganti New financial year super strategies The rise of sustainable and impact investing. Financial Services Group Insights Winter 2018 Market Update by Riccardo Briganti New financial year super strategies The rise of sustainable and impact investing 3 4 6 Welcome In this edition of Insights

More information

Principle 1 Institutional investors should publicly disclose their policy on how they will discharge their stewardship responsibilities

Principle 1 Institutional investors should publicly disclose their policy on how they will discharge their stewardship responsibilities LOCAL PENSIONS PARTNERSHIP Statement of Compliance with the UK Stewardship Code Introduction Local Pensions Partnership Ltd (LPP) is a pension services provider for public sector pension funds. Our aim

More information

An Overview of BCI s Approach to Responsible Investing Protecting the Long-Term Value of our Clients Funds

An Overview of BCI s Approach to Responsible Investing Protecting the Long-Term Value of our Clients Funds An Overview of BCI s Approach to Responsible Investing 2015 Protecting the Long-Term Value of our Clients Funds British Columbia Investment Management Corporation Table of Contents About BCI... 1 In a

More information

Sparinvest Responsible Investment Policy. Investing for value creation and sustainability

Sparinvest Responsible Investment Policy. Investing for value creation and sustainability Sparinvest Responsible Investment Policy Investing for value creation and sustainability This policy document aims to give an overview of our approach to responsible investment. Further details may be

More information

Lancashire County Pension Fund (LCPF) Responsible Investment Policy

Lancashire County Pension Fund (LCPF) Responsible Investment Policy 1. Introduction Lancashire County Pension Fund (LCPF) Responsible Investment Policy This policy defines the commitment of Lancashire County Pension Fund (the Fund) to responsible investment (RI). Its purpose

More information

Allianz Global Investors. ESG Policy Framework

Allianz Global Investors. ESG Policy Framework Allianz Global Investors ESG Policy Framework Introduction Allianz Global Investors (AllianzGI) is one of the world s leading active investment managers, providing a diverse range of active investment

More information

Aegon N.V. Responsible Investment Policy 2017

Aegon N.V. Responsible Investment Policy 2017 Aegon N.V. Responsible Investment Policy 2017 The Hague, October 2017 1 Introduction Aegon N.V. (hereafter referred to as Aegon ), as a global insurance company, asset manager and investor, has a large

More information

Allianz Global Investors. ESG Policy

Allianz Global Investors. ESG Policy Allianz Global Investors ESG Policy ESG Policy Allianz Global Investors is one of the world s leading active asset managers, providing a diverse range of active investment strategies and solutions for

More information

RESPONSIBLE INVESTMENT POLICY. Principles for Responsible Investment... 2 ESG Issues and Objectives... 3 ESG approach... 5 Engagement...

RESPONSIBLE INVESTMENT POLICY. Principles for Responsible Investment... 2 ESG Issues and Objectives... 3 ESG approach... 5 Engagement... RESPONSIBLE INVESTMENT POLICY Principles for Responsible Investment... 2 ESG Issues and Objectives... 3 ESG approach... 5 Engagement... 5 June 2017 1 Principles for Responsible Investment Responsible investment

More information

Wealth Management Partners NV. An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact

Wealth Management Partners NV. An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact RI TRANSPARENCY REPOR T 201 4 /15 Wealth Management Partners NV An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact About this report The PRI Reporting Framework is

More information

Image: The Caribbean Sea and Curacao RESPONSIBLE INVESTING ACTIVELY DESIGNING SOLUTIONS FOR THE FUTURE

Image: The Caribbean Sea and Curacao RESPONSIBLE INVESTING ACTIVELY DESIGNING SOLUTIONS FOR THE FUTURE Image: The Caribbean Sea and Curacao RESPONSIBLE INVESTING ACTIVELY DESIGNING SOLUTIONS FOR THE FUTURE OUR APPROACH NOT ALL RESPONSIBLE INVESTMENT SOLUTIONS ARE CREATED EQUAL Different organisations define

More information

PUBLIC SECTOR PENSION INVESTMENT BOARD (PSP INVESTMENTS) RESPONSIBLE INVESTMENT POLICY

PUBLIC SECTOR PENSION INVESTMENT BOARD (PSP INVESTMENTS) RESPONSIBLE INVESTMENT POLICY PUBLIC SECTOR PENSION INVESTMENT BOARD (PSP INVESTMENTS) RESPONSIBLE INVESTMENT POLICY November 2017 The Public Sector Pension Investment Board ( PSP Investments ) 1 is one of Canada s largest pension

More information

BLI General ESG Policy. February 2018

BLI General ESG Policy. February 2018 BLI General ESG Policy February 2018 BLI s equity investment strategy consists of investing in companies that respect the quality and valuation criteria of our Business-Like-Investing stock-selection methodology.

More information

ESG Engagement: Public Equities Priorities and Process. British Columbia Investment Management Corporation

ESG Engagement: Public Equities Priorities and Process. British Columbia Investment Management Corporation ESG ENGAGEMENT: PUBLIC EQUITIES PRIORITIES AND PROCESS 1 ESG Engagement: Public Equities Priorities and Process 2016 British Columbia Investment Management Corporation Table of Contents Context...1 Approaches

More information

Responsible investment policy

Responsible investment policy Responsible investment policy February 2018 For people, not profit Responsible investment Trustee policy statement Policy statement Responsible investment is first and foremost about being responsible

More information

Investment Insight Engage or divest? The carbon debate

Investment Insight Engage or divest? The carbon debate November 2015 Kirsten Temple Senior Consultant JANA Kirsten is the Head of JANA s Environmental Social and Governance (ESG) & Socially Responsible Investment (SRI) team. In this role, she is responsible

More information

RBS Pension Trustee Limited Responsible Ownership Policy

RBS Pension Trustee Limited Responsible Ownership Policy RBS Pension Trustee Limited Responsible Ownership Policy Background RBS Pension Trustee Limited (the Trustee ) is the trustee of The Royal Bank of Scotland Group Pension Fund (the Fund ). The Trustee believes

More information

Policy for Responsible Investments

Policy for Responsible Investments Policy for Responsible Investments Adopted by the Board of Directors for Xact Kapitalförvaltning AB (the Management Company or Xact Kapitalförvaltning) on 21 March, 2016. This written policy has been approved

More information

ESG investing is not just about ethics, but risk management too November 2017

ESG investing is not just about ethics, but risk management too November 2017 PERSPECTIVES ESG investing is not just about ethics, but risk management too November 2017 Socially responsible investing (SRI) aims to generate returns for investors while taking the sustainability and

More information

Ireland Strategic Investment Fund. Sustainability and Responsible Investment Strategy

Ireland Strategic Investment Fund. Sustainability and Responsible Investment Strategy Ireland Strategic Investment Fund Sustainability and Responsible Investment Strategy December 2017 Ireland Strategic Investment Fund (ISIF) Sustainability and Responsible Investment Strategy This strategy

More information

Sunsuper Pty Ltd ABN: AFSL No: RSE Licence No: L RSE Registration No: R000337

Sunsuper Pty Ltd ABN: AFSL No: RSE Licence No: L RSE Registration No: R000337 Sunsuper Pty Ltd ABN: 88 010 720 840 AFSL No: 228975 RSE Licence No: L0000291 RSE Registration No: R000337 Sunsuper Pty Ltd Sunsuper Superannuation Fund Sunsuper Financial Services Pty Ltd Sunsuper Pooled

More information

Principal Global Fixed Income s ESG principles

Principal Global Fixed Income s ESG principles Principal Global Fixed Income s ESG principles Guided by our responsibility to our clients Our clients long-term best interests define the responsibility of Principal Global Fixed Income. And that responsibility

More information

How we invest your money. VicSuper FutureSaver Member Guide

How we invest your money. VicSuper FutureSaver Member Guide How we invest your money VicSuper FutureSaver Member Guide Date prepared 1 October 2017 VicSuper s investment policy The information in this document forms part of the VicSuper FutureSaver Product Disclosure

More information

Responsible Investment: Policies and Principles

Responsible Investment: Policies and Principles Responsible Investment: Policies and Principles At Franklin Templeton Investments (FTI), responsible investment (RI) refers to the integration of environmental, social and governance (ESG) factors into

More information

Responsible & Sustainable Investment Statement

Responsible & Sustainable Investment Statement Responsible & Sustainable Investment Statement Nanuk Asset Management February 2018 Overview Nanuk is committed to investing sustainably and managing responsibly. Nanuk s commitment is inherent in the

More information

eastsussex.gov.uk UK Stewardship Code Statement

eastsussex.gov.uk UK Stewardship Code Statement eastsussex.gov.uk UK Stewardship Code Statement November 2018 Introduction The East Sussex Pension Fund (the Fund) recognises that Environmental, Social and Corporate Governance ( ESG ) issues can have

More information

Forestry. Position statement Danske Bank

Forestry. Position statement Danske Bank Forestry Position statement Danske Bank 4 April 2016 1 Introduction About Danske Bank Group Danske Bank is a Nordic universal bank with strong regional roots and close ties to the rest of the world. We

More information

Socially Responsible Investment Policy

Socially Responsible Investment Policy Governance Socially Responsible Investment Policy This Socially Responsible Investment policy (the SRI Policy ) applies to endowment funds originating from grants or donations and the long-term investment

More information

From niche to mainstream: how ESG principles are reshaping investing today

From niche to mainstream: how ESG principles are reshaping investing today June 2016 From niche to mainstream: how ESG principles are reshaping investing today Leo M. Zerilli, CIMA Head of Investments John Hancock Investments As ESG standards become more uniform and as corporate

More information

RESPONSIBLE INVESTMENT POLICY. (Initially Adopted by Compliance Committee on February 7, 2013)

RESPONSIBLE INVESTMENT POLICY. (Initially Adopted by Compliance Committee on February 7, 2013) I. Introduction RESPONSIBLE INVESTMENT POLICY (Initially Adopted by Compliance Committee on February 7, 2013) Responsible investment describes an investment discipline that integrates environmental, social

More information

Cbus In this Policy 01 Purpose and objectives of the Policy 02 Application 03 Accountability 04 Key Legislative Obligations and Trustee Powers

Cbus In this Policy 01 Purpose and objectives of the Policy 02 Application 03 Accountability 04 Key Legislative Obligations and Trustee Powers Cbus Policy Investment Governance Framework Policy Date of this Policy: October 2017 Cbus Trustee: United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 Cbus ABN 75 493 363 262 MySuper authorisation 75 493

More information

RESPONSIBLE INVESTMENT POLICY

RESPONSIBLE INVESTMENT POLICY RESPONSIBLE INVESTMENT POLICY MERCER (NZ) LIMITED SUSTAINABLE INVESTMENT ETHICAL EXCLUSIONS CORPORATE GOVERNANCE & PROXY VOTING MAY 2017 CONTENTS 1. BACKGROUND... i 2. SUSTAINABLE INVESTMENT... 1 Scope...

More information

Policy on Responsible Investing

Policy on Responsible Investing Policy on Responsible Investing August 10, 2010 1.0 Our Mandate... 1 2.0 Our Principles... 1 3.0 Investment Strategy... 2 4.0 Engagement... 2 4.1 Engagement Focus Areas... 2 4.2 Direct Engagement... 3

More information

Responsible investment strategy

Responsible investment strategy Responsible investment strategy 2 Introduction Since 2003, the Supervisory Board has demanded a firm commitment from the Fonds de Réserve pour les Retraites in the area of responsible investment 1. As

More information

ESG Policy & Process. 1. Overview and Philosophy

ESG Policy & Process. 1. Overview and Philosophy Wells Capital Management ESG Policy & Process Updated March 2018 1. Overview and Philosophy Through our independent and specialized investment teams, Wells Fargo Asset Management ( WFAM ) 1 brings together

More information

VBV- Vorsorgekasse AG. An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact

VBV- Vorsorgekasse AG. An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact RI TRANSPARENCY REPOR T 201 3 /1 4 VBV- Vorsorgekasse AG An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact About this report The PRI Reporting Framework is a key

More information

PRI REPORTING FRAMEWORK 2018 Direct Listed Equity Incorporation

PRI REPORTING FRAMEWORK 2018 Direct Listed Equity Incorporation PRI REPORTING FRAMEWORK 2018 Direct Listed Equity Incorporation November 2017 reporting@unpri.org +44 (0) 20 3714 3187 Understanding this document In addition to the detailed indicator text and selection

More information

Future World Fund Q&A

Future World Fund Q&A For Professional Investors and their Financial Advisers Only. Not to be distributed to or intended for use by Retail Clients. Index Fund launch Future World Fund Q&A Investing for the world you want to

More information

European SRI Transparency Code Version 3:0

European SRI Transparency Code Version 3:0 European SRI Transparency Code Version 3:0 December 2014 The European SRI Transparency Code (the Code) focuses on SRI funds distributed publicly in Europe and has been designed to cover a range of assets

More information

The Council of Experts Follow-up of Japan's Stewardship Code and Japan's Corporate Governance Code

The Council of Experts Follow-up of Japan's Stewardship Code and Japan's Corporate Governance Code The Council of Experts Follow-up of Japan's Stewardship Code and Japan's Corporate Governance Code 5 th March 2019 Dear Fellow Council Members, ICGN Statement to the Council of Experts for the Follow-up

More information

Stewardship at AAM. November Katy Grant, Senior Analyst - Responsible Investing Stewardship. Aberdeen Standard Investment

Stewardship at AAM. November Katy Grant, Senior Analyst - Responsible Investing Stewardship. Aberdeen Standard Investment Stewardship at AAM November 2017 Katy Grant, Senior Analyst - Responsible Investing Stewardship Aberdeen Standard Investment For professional investors only Not for public distribution 2 What is Stewardship

More information

Sustainable Investing

Sustainable Investing FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY NOT FOR RETAIL USE OR DISTRIBUTION Sustainable Investing Investment Perspective on Climate Risk February 2017 Clients entrust

More information

Responsible Investment Policy

Responsible Investment Policy Responsible Investment Policy This Responsible Investment Policy details the approach that BCPP will follow in fulfilling its commitment to the partner funds in the delegation of RI and stewardship responsibilities.

More information

Stewardship: Fixed income

Stewardship: Fixed income Stewardship: Fixed income Building value for the longer term Integrating environmental, social and governance (ESG) factors into our fixed income investment process Aberdeen investment philosophy Aberdeen

More information

Thought leadership and insights from Frontier Advisors

Thought leadership and insights from Frontier Advisors THE Thought leadership and insights from Frontier Advisors Issue 134 October 2017 Consultant Branka Needham joined Frontier as an Associate in 2003 and was promoted to Consultant in 2007. Her responsibilities

More information

Introduction. What is ESG?

Introduction. What is ESG? Contents Introduction 2 Purpose of this Guide 6 Why reporting on ESG is important 10 Best Practice Recommendations 14 Appendix: Sustainability Reporting Initiatives 20 01 Introduction Environmental, social

More information

ESG REQUIREMENTS MAY 2017

ESG REQUIREMENTS MAY 2017 ESG REQUIREMENTS MAY 2017 1 INTRODUCTION Frontier Investment Management ( the Fund Manager ) is a private equity infrastructure fund manager with offices in Copenhagen and East Africa with a unique focus

More information

STEWARDSHIP STATEMENT

STEWARDSHIP STATEMENT STEWARDSHIP STATEMENT February 2017 The UK Stewardship Code The aim of stewardship is to enhance the quality of engagement between institutional investors and companies in order to promote the long-term

More information

GUIDANCE ON PRI PILOT CLIMATE REPORTING

GUIDANCE ON PRI PILOT CLIMATE REPORTING GUIDANCE ON PRI PILOT CLIMATE REPORTING BASED ON THE RECOMMENDATIONS OF THE FSB TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES An investor initiative in partnership with UNEP Finance Initiative and

More information

Responsible Investment

Responsible Investment June 2015 Schroders Responsible Investment Global and International Equities At Schroders, Responsible principles drive our investment decisions and the way we manage funds. From choosing the right assets

More information

1 INTRODUCTION. Frontier Investment Management ( the Fund Manager ) is a private equity infrastructure

1 INTRODUCTION. Frontier Investment Management ( the Fund Manager ) is a private equity infrastructure ESG REQUIREMENTS MAY 2017 1 INTRODUCTION Frontier Investment Management ( the Fund Manager ) is a private equity infrastructure fund manager with offices in Copenhagen and East Africa with a unique focus

More information

Aligning Social Objectives with Financial Goals

Aligning Social Objectives with Financial Goals Aligning Social Objectives with Financial Goals An Introduction to ESG Investing By Baird s Asset Manager Research ESG INCORPORATION STRATEGIES AND TERMS Socially Responsible Investing: A portfolio construction

More information

Fossil fuels. Position statement Danske Bank

Fossil fuels. Position statement Danske Bank Fossil fuels Position statement Danske Bank March 2018 1 Introduction About Danske Bank Group Danske Bank is a Nordic universal bank with strong regional roots and close ties to the rest of the world.

More information

Responsible investments. at Nordea Life & Pensions

Responsible investments. at Nordea Life & Pensions Responsible investments at Nordea Life & Pensions Nordea Life & Pensions signed the UN Principles for Responsible Investments in 2014 and since then we have been working on implementing the principles

More information

Our approach to investments on stock and bond markets

Our approach to investments on stock and bond markets TlB Our approach to investments on stock and bond markets Introduction Triodos Bank is one of the world s leading sustainable banks. Its mission is to make money work for positive change. In addition to

More information

Responsible & Sustainable Investment Statement

Responsible & Sustainable Investment Statement Responsible & Sustainable Investment Statement Nanuk Asset Management June 2018 Overview Nanuk is committed to investing sustainably and managing responsibly. Nanuk s commitment is inherent in the firm

More information

Church Pension Fund s Guidelines for Responsible Investing

Church Pension Fund s Guidelines for Responsible Investing Church Pension Fund s Guidelines for Responsible Investing Approved by the Board of the Church Pension Fund on 17 June 2014 Content 1 Introduction... 3 2 The Church Pension Fund as an investor... 3 3 The

More information

Jyske Invest. An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact

Jyske Invest. An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact RI TRANSPARENCY REPOR T 201 6 Jyske Invest An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact About this report The PRI Reporting Framework is a key step in the journey

More information

First Super Voting Policy from INVESTMENT GOVERNANCE STATEMENT & MANUAL (20 Nov 2018) ENVIRONMENTAL, SOCIAL AND GOVERNANCE POLICY

First Super Voting Policy from INVESTMENT GOVERNANCE STATEMENT & MANUAL (20 Nov 2018) ENVIRONMENTAL, SOCIAL AND GOVERNANCE POLICY First Super Voting Policy from INVESTMENT GOVERNANCE STATEMENT & MANUAL (20 Nov 2018) ENVIRONMENTAL, SOCIAL AND GOVERNANCE POLICY ESG Considerations (a) Introduction When making investment decisions, the

More information

Environmental, Social and Governance Policy. August 2016

Environmental, Social and Governance Policy. August 2016 Environmental, Social and Governance Policy August 2016 Environmental, Social and Governance Policy Table of contents 1. Environmental, Social and Governance ( ESG ) Investment 3 2. ESG Integration into

More information

Responsible Investment Policy 2018

Responsible Investment Policy 2018 Responsible Investment Policy 2018 Antin Infrastructure Partners Responsible Investment Policy 2018 Founding principles and objectives Antin is a long-term investor committed to responsible investment

More information

THE SHAREHOLDER RIGHTS DIRECTIVE II. How Hermes EOS supports compliance. For professional investors only

THE SHAREHOLDER RIGHTS DIRECTIVE II. How Hermes EOS supports compliance.   For professional investors only THE SHAREHOLDER RIGHTS DIRECTIVE II How Hermes EOS supports compliance For professional investors only www.hermes-investment.com 2 THE SHAREHOLDER RIGHTS DIRECTIVE II The rights of shareholders in EU companies

More information

Dow Jones Sustainability North America Index Dow Jones Sustainability United States Index

Dow Jones Sustainability North America Index Dow Jones Sustainability United States Index Dow Jones Sustainability North America Index Dow Jones Sustainability United States Index Launch Event 23 September 2005 New York, USA 1 Program Sustainability Investing A Market Overview Jane Ambachtsheer

More information

eastsussex.gov.uk Responsible Investment Policy

eastsussex.gov.uk Responsible Investment Policy eastsussex.gov.uk Responsible Investment Policy November 2018 Responsible Investment Policy Introduction and background Regulation 7(2) (e) The Local Government Pension Scheme (Management and Investment

More information

pggm.nl PGGM Beliefs and Foundations for Responsible Investment

pggm.nl PGGM Beliefs and Foundations for Responsible Investment pggm.nl PGGM Beliefs and Foundations for Responsible Investment May 2014 PGGM Beliefs and Foundations for Responsible Investment Introduction This document describes the beliefs and foundations for responsible

More information

Stichting Unilever Pensioenfonds Nederland Progress Revised Code on Responsible Investing

Stichting Unilever Pensioenfonds Nederland Progress Revised Code on Responsible Investing Stichting Unilever Pensioenfonds Nederland Progress Revised Code on Responsible Investing 12 September 2017 Introduction This (revised) Code on Responsible Investing (Code) sets out how Stichting Unilever

More information

Stichting Algemeen Pensioenfonds Unilever Nederland Code on Responsible Investing

Stichting Algemeen Pensioenfonds Unilever Nederland Code on Responsible Investing Stichting Algemeen Pensioenfonds Unilever Nederland Code on Responsible Investing February 2018 Introduction This (revised) Code on Responsible Investing (Code) sets out how Stichting Algemeen Pensioenfonds

More information

Image: The Caribbean Sea and Curacao RESPONSIBLE INVESTING ACTIVELY DESIGNING SOLUTIONS FOR THE FUTURE

Image: The Caribbean Sea and Curacao RESPONSIBLE INVESTING ACTIVELY DESIGNING SOLUTIONS FOR THE FUTURE Image: The Caribbean Sea and Curacao RESPONSIBLE INVESTING ACTIVELY DESIGNING SOLUTIONS FOR THE FUTURE OUR APPROACH NOT ALL RESPONSIBLE INVESTMENT SOLUTIONS ARE CREATED EQUAL Different organisations define

More information

The Morningstar Sustainable Investing Handbook

The Morningstar Sustainable Investing Handbook The Morningstar Sustainable Investing Handbook Dear Investor, I founded Morningstar in 1984 because I wanted to make high-quality investment information available to everyday investors to help inform their

More information

DEFINING ESG INVESTING

DEFINING ESG INVESTING M E K E T A I N V E S T M E N T G R O U P BOSTON MA CHICAGO IL MIAMI FL PORTLAND OR SAN DIEGO CA LONDON UK DEFINING ESG INVESTING John A. Haggerty, CFA Gustavo Bikkesbakker Colleen A. Smiley Mika L. Malone,

More information

STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES

STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES 1. Introduction This Statement of Investment Policy and Objectives (the SIPO ) prepared by the Trustees (the Trustees ) of Foundation North (the Foundation ) sets out the objectives, policies and beliefs

More information

17 April Dear Kelly

17 April Dear Kelly Ms Kelly Dent Economic Justice Public Policy and Advocacy Lead Oxfam Australia Level 3, 25 Cooper St Surry Hills NSW 2010 kellyd@oxfam.org.au Westpac Place Level 20, 275 Kent Street Sydney NSW 2000 +61

More information

Stewardship Code Compliance Statement

Stewardship Code Compliance Statement Stewardship Code Compliance Statement Principle 1 Institutional investors should publicly disclose their policy on how they will discharge their stewardship responsibilities. The Henderson investment approach

More information

FOR PROFESSIONAL CLIENTS ONLY. Environmental, social and governance (ESG) investment policies

FOR PROFESSIONAL CLIENTS ONLY. Environmental, social and governance (ESG) investment policies FOR PROFESSIONAL CLIENTS ONLY Environmental, social and governance (ESG) investment policies 2016 1. Does your organisation have a policy regarding the integration of environmental, social and corporate

More information

RESPONSIBLE INVESTMENT FOR THE GEF TRUST FUND AS PART OF THE WORLD BANK TRUST FUND POOL

RESPONSIBLE INVESTMENT FOR THE GEF TRUST FUND AS PART OF THE WORLD BANK TRUST FUND POOL 55th GEF Council Meeting December 17-20, 2018 Washington, D.C. GEF/C.55/13 December 4, 2018 RESPONSIBLE INVESTMENT FOR THE GEF TRUST FUND AS PART OF THE WORLD BANK TRUST FUND POOL (Discussion Note prepared

More information

RESPONSIBLE INVESTMENT QUESTIONS FOR FUND MANAGERS A Guide for Foundations

RESPONSIBLE INVESTMENT QUESTIONS FOR FUND MANAGERS A Guide for Foundations RESPONSIBLE INVESTMENT QUESTIONS FOR FUND MANAGERS A Guide for Foundations Purpose of Guide The purpose of this Guide is to: 1) Orient foundations to preliminary questions they can raise with their current

More information

West Midlands Pension Fund. Responsible Investment Framework 2015

West Midlands Pension Fund. Responsible Investment Framework 2015 West Midlands Pension Fund Responsible Investment Framework 2015 June 2015 Responsible Investment Framework 2015 1) Introduction This framework defines the commitment of West Midlands Pension Fund ( the

More information

VANGUARD ESG ETFs FOR FINANCIAL ADVISORS ONLY. NOT FOR PUBLIC DISTRIBUTION.

VANGUARD ESG ETFs FOR FINANCIAL ADVISORS ONLY. NOT FOR PUBLIC DISTRIBUTION. VANGUARD ESG ETFs FOR FINANCIAL ADVISORS ONLY. NOT FOR PUBLIC DISTRIBUTION. Today more and more people are evaluating investments not only based on their financial goals but also based on their personal

More information

National Employment Savings Trust (NEST) An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact

National Employment Savings Trust (NEST) An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact RI TRANSPARENCY REPOR T 201 4 /15 National Employment Savings Trust (NEST) An investor initiative in partnership with UNEP Finance Initiative and UN Global Compact About this report The PRI Reporting Framework

More information

SUSTAINABLE FINANCIAL SYSTEM: NINE PRIORITY CONDITIONS TO ADDRESS

SUSTAINABLE FINANCIAL SYSTEM: NINE PRIORITY CONDITIONS TO ADDRESS SUSTAINABLE FINANCIAL SYSTEM: NINE PRIORITY CONDITIONS TO ADDRESS EXECUTIVE SUMMARY NINE PRIORITY CONDITIONS 1) Short-term investment objectives 2) Attention to beneficiary interests 3) Policy maker influence

More information

MYLIFEMYMONEY Superannuation Fund

MYLIFEMYMONEY Superannuation Fund CSF Pty Limited (ABN 30 006 169 286) (AFSL 246664) MYLIFEMYMONEY Superannuation Fund May 2017 Covering Page Contents 1. Background... 1 2. Principles and Guidelines... 1 3. Australian Equities... 2 3.1

More information