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BT Pension Scheme

PRI reporting framework 2016

You are in Indirect – Manager Selection, Appointment and Monitoring » Listed equity (LE) and Fixed income (FI) » Selection


SAM 05. Selection processes (LE and FI)

05.1. Indicate whether your organisation and/or your investment consultant typically do any of the following in the manager selection process for listed equity and/or fixed income.



Corporate (financial)?
Corporate (non-financial)?

Review the manager’s responsible investment policies

Discuss managers' governance and management of responsible investment activities
Meet staff with responsible investment responsibilities to assess their skills and competence
Discuss minimum responsible investment expectations that managers must meet
Discuss the role managers have played in collaborative initiatives 
Ask whether the organisation is a signatory to the PRI and/or other relevant organisations
Review the manager's responsible investment reporting to clients and/or the public, (excluding PRI)
Review the manager's PRI Transparency or Assessment reports
Discuss the type of ESG reporting you expect
Assign specific weighting to ESG factors in your manager evaluation
Other general aspects in your selection process, specify
None of the above

ESG incorporation


Corporate (financial)?
Corporate (non-financial)?

Evaluate the quality and coverage of ESG research used by managers

Assess how the manager incentivises brokers to provide ESG research
Assess managers' ESG incorporation strategies and ability to identify and manage ESG issues
Discuss with managers how ESG issues have impacted specific investment decisions and, where relevant, stock or portfolio performance
Evaluate index providers' ESG incorporation when designing the index
Other ESG incorporation issues in your selection process, specify
None of the above



Corporate (financial)?
Corporate (non-financial)?
Discuss with the manager the historic interactions they have had with the investee entities 
Discuss the comprehensiveness of managers' engagement processes
Discuss the role managers have played in influencing investee entities' ESG practices and performance
Discuss the escalation strategies the manager deploys in case of insufficient ESG performance
Discuss how information gained through engagement is incorporated into investment decision-making
Other engagement issues in your selection process,specify
None of the above

(Proxy) voting


Discuss the managers’ voting processes

Discuss how information gained through research for (proxy) voting is used in investment-decision making

Discuss whether the manager is able to deploy the asset owner's proprietary voting policy or aligning its voting policy with the asset owner's investment beliefs and strategy

Other (proxy) voting issues in your selection process, specify

None of the above

If you select any 'Other' option(s), specify

05.2. Please describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

The Trustees delegate evaluation of ESG factors into investment decision-making processes to BTPSM who oversee the Scheme's investment managers. The evaluation of managers' RI policies and processes is led by BTPSM's Head of RI who has 10 years of experience across sustainable development and corporate governance in both private and public sectors. The Head of RI works across and collaboratively with an experience investment team including the Head of Manager Selection and Head of Portfolio Analytics.

05.3. Provide additional information relevant to your organisation's selection approach for listed equity and/or fixed income. [Optional]