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North East Scotland Pension Fund

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. 貴社に正式なエンゲージメントポリシーがあるかどうか示してください

01.2. エンゲージメントポリシーがカバーしている内容を示してください。

01.3. エンゲージメントポリシーのURLを記載してください。[任意]

01.4. エンゲージメントに対する貴社のアプローチの概要を説明してください。

NESPF has a duty to dedicate sufficient time and resource to monitoring the proper application of ESG factors in the approach our external fund managers take to investment and directly in the companies we invest in.

NESPF has a fiduciary duty to incorporate Environmental, Social and Corporate Governance (ESG) factors as an active and embedded principle of risk and return assessment in managing and determining its investment portfolio and ensuring that any managers appointed by the Funds are doing likewise.

Apart from our regular discussions with our Fund Managers our main focus of engagement is through our membership of LAPFF. We have a member on the Executive and we attend all business meetings.

Through our involvement with the PRI, the Fund has a representative on the Sustainable Stock Exchanges Initiative Working Group and we have directly engaged with our own Fund Managers to encourage them to join. We have recently become directly involved with engaging directly with a couple of Stock Exchanges.

01.5. 補足情報 [任意]


LEA 02. Reasoning for interaction on ESG issues

02.1. エンゲージメントの方法および対話を行う理由を明示して下さい。

エンゲージメントの種類

対話を行う理由​
単独/貴社内のスタッフのエンゲージメント

協働的なエンゲージメント

サービスプロバイダーのエンゲージメント

02.2. 補足情報。[任意]

As an active and responsible investor North East Scotland Pension Fund believes that engagement is a major factor which should, where relevant, be taken into account when managing the Fund's assets. The concept of Long Term Responsible Investment (LTRI) and consideration of Environmental, Social and Governance (ESG) issues in our investment are fundamental to the Fund.

Our Fund does not have the resources to engage with companies in-house, we conduct all our engagement through collaborative engagement networks. We are active members of the Local Authority Pension Fund Forum which has more than 20 years of experience engaging with companies on matters of corporate governance and corporate social responsibility.

We attend all business meetings and annual conference. LAPFF’s engagement approach is based on the following core principles:

• Company engagement is conducted on the basis of reputational; risk and long-term value for shareholders. The Forum does not generally take an ethical stance on issues

• Engagement should seek to improve the performance of laggard companies while also striving to acknowledge and encourage companies that are leaders.

•The Forum seeks to understand the company perspective on controversial issues before suggesting opportunities to improve governance or corporate responsibility practices

• All engagement meeting notes and company correspondence are kept strictly confidential in order to protect the company’s reputation and allow for open and honest dialogue.

• In the interest of transparency and stewardship, the Forum reports on its engagement activities quarterly. Quarterly reporting is general in nature and does not reveal confidential information. Our Fund has also signed up to various UNPRI initiatives, Global Investor Statement on Climate Change, Global Investor Statement on the Arms Trade and are a member of the Sustainable Stock Exchanges Investor Working Group.


Process

Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. 貴社内のスタッフが実行するエンゲージメント活動を特定し、優先順位を決定する正式なプロセスが貴社にあるかどうか示してください。

03.3. 補足情報。 [任意]

The engagement carried out by internal staff has come through being a member of the PRI Sustainable Stock Exchanges Investor Working Group.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

04.1. 貴社内のスタッフが実行する貴社のエンゲージメント活動に具体的な目的を定義しているかどうかを記載してください。

04.2. 貴社内のスタッフが実行する貴社のエンゲージメントを受けた企業の行動を監視しているかどうかを記載してください。

04.3. 貴社内のスタッフが実行するエンゲージメント活動のためにマイルストーンと目標を貴社で定義しているかどうか示してください。

04.5. 補足情報。[任意]


Process for engagements conducted via collaborations

LEA 05. Process for identifying and prioritising collaborative engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

05.1. 協働的なエンゲージメントを特定し、優先順位を決定する正式なプロセスが貴社にあるかどうか示してください。

05.2. 協働的エンゲージメントを特定し、優先順位を決定する際に使用する基準を説明してください。

05.3. 補足情報 [任意]

The LAPFF Executive Committee, a member of which is from our Fund, gathers input from the members and the primary service provider and advises on what engagement collaborations to purse and prioritise.

Where a significant number of LAPFF funds hold a company, where LAPFF funds hold a large percentage of the company or a priority issue has been identified, LAPFF will seak to engage with the relevant company.


LEA 06. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. 貴社が関与する協働的なエンゲージメントに目的が定義されているかどうか示してください。

06.2. 貴社の協働的なエンゲージメントを受けた企業の行動を監視しているかどうか示してください。

06.3. 協働エンゲージメント活動に関連したマイルストーンと目標を貴社で定義しているかどうか示してください。

06.4. 貴社のエンゲージメント活動の進捗を監視し、評価するために以下のいずれかを実施しているかどうか示してください。

その他

          Through LAPFF as detailed below.
        

06.5. 補足情報 [任意]

Tracking and/or monitoring progress against defined milestones and goals
Establish a process for when goals are not met
Revisit and, if necessary, revise goals on a continuous basis

Other: For LAPFF-initiated engagements, progress is monitored by the service provider and progress reports are provided to members in the form of a Quarterly Engagement Report and through presentations at Business meetings. Before each engagement meeting LAPFF sets out two or three objectives, then following the meeting an indication is provided of whether these objectives were achieved and if so how. An assessment is provided of progress, ranging from ‘no progress’ to ’substantial improvement’.
For other collaborative engagements, LAPFF will monitor companies for progress where LAPFF has a direct engagement interest or ongoing relationship with that company. For companies where LAPFF does not have a direct relationship, we allow other collaborators to evaluate company progress and report back.


Process for engagements conducted with/on your behalf by service providers

LEA 07. Role in engagement process

New selection options have been added to this indicator. Please review your prefilled responses carefully.

07.1. サービスプロバイダーがあなたの貴社のために実施するエンゲージメントにおいて、貴社がどのような役割を担っているのか明示してください。

07.2. サービスプロバイダーがあなたの貴社のために実施するエンゲージメントにおいて、貴社がどのような役割を担っているのか明示してください。

          Actively monitor and review the activities of the service provider 

Actively monitor and review the activities of the service provider
        

07.3. 補足情報。 [任意]

As a LAPFF member, we have an opportunity to suggest topics or companies for engagement. The LAPFF Executive Committee makes the final recommendation on whether or not to go forward with an engagement suggested by a LAPFF member. LAPFF’s engagement progress is actively monitored and reviewed at each quarterly Business Meeting. In addition, the Executive Committee assesses the performance of LAPFF’s service provider annually.

The Funds Convenor is on the LAPFF Executive and has represented LAPFF directly in engagement meetings with companies and at AGMs.


LEA 08. Monitor / discuss service provider information

08.1. サービスプロバイダーが貴社に提供する以下の情報を監視、協議しているかどうかを記載してください。

Please select all that apply

08.2. 補足情報。

Our Fund monitors the progress of LAPFF on the topics listed above by means of being a member of the executive committee, through attending the quarterly business meetings and the LAPFF Quarterly Engagement Report.


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers (Not Completed)


LEA 10. Tracking number of engagements

10.1. 貴社がエンゲージメントしている企業の数を追跡しているかどうかを記載してください。

エンゲージメントの種類
エンゲージメントの追跡
単独/貴社内のスタッフのエンゲージメント

協働的なエンゲージメント

サービスプロバイダーのエンゲージメント

10.2. 補足情報。[任意]

LAPFF tracks the number of companies that it engages with directly and reports this quarterly as well as annually. All incoming and outgoing correspondence as well as all meetings and phone calls with companies are saved and recorded, allowing LAPFF to provide accurate and comparable statistics on number and type of engagements year on year.
For collaborative engagements, LAPFF endeavors to track how many companies it reaches. However, the number of companies where the number of companies contacted numbers into the hundreds in a collaborative engagement is not systematically tracked.


Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort (Private)


LEA 12. Engagement methods (Not Completed)


LEA 13. Engagements on E, S and/or G issues (Not Completed)


LEA 14. Companies changing practices / behaviour following engagement (Not Completed)


LEA 15. Examples of ESG engagements (Not Completed)


Communication

LEA 16. Disclosure of approach to ESG engagements

16.1. 貴社がエンゲージメントに関する情報を積極的に開示しているかどうかを記載してください。

16.2. 一般に開示されている情報が、顧客や受益者に開示されている情報と同じであるかどうかを記載してください。

16.3. 貴社が一般に積極的に開示しているエンゲージメントに関する情報の種類を記載してください。

開示しているエンゲージメントに関する情報

16.4. エンゲージメントの情報を開示する頻度について記載してください。

16.8. 補足情報。[任意]

In our Annual report we have a section on Responsible Investment, which details our Voting record, For & Against spilt and geographical Split along with details of the Funds activities over the past year.

All the Funds Voting records are available on our Website and are updated quarterly, as is a link to the LAPFF website.


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