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Government Employees Pension Fund of South Africa

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement » Outputs and outcomes

Outputs and outcomes

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

11.1. 報告年度に貴社がエンゲージメントを行った上場株式ポートフォリオの数を明示してください。

エンゲージメントを行った企業の数
割合(5%刻み)
この割合の計算基準を明記してください

 

 

協働的なエンゲージメント

0
0 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

 

 

サービスプロバイダーのエンゲージメント

41
100 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

11.2. ESG問題に関連して報告年度中に企業と複数かつ現実的で詳細にわたる議論ややりとりを行ったエンゲージメントの割合を記載してください。

エンゲージメントの種類
総合的なエンゲージメントの割合(%)

 

 

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

11.3. 報告期間の協働的なエンゲージメントの中で、貴社が主導したエンゲージメントの割合を記載してください。 [任意]

エンゲージメントの種類
主導的役割を果たした割合(%)

 

 

協働的なエンゲージメント

11.4. 報告年度のサービスプロバイダーのエンゲージメントの中で、貴社が深く関与した割合を記載してください。[任意]

エンゲージメントの種類

深く関与した割合(%)

 

 

サービスプロバイダーのエンゲージメント

11.5. 補足情報。[任意]


LEA 12. Engagement methods (Not Completed)


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


LEA 14. Companies changing practices / behaviour following engagement

14.1. 報告年度に貴社や貴社のサービスプロバイダーのエンゲージメント活動を受けて、企業が実務を変更した、または実務を変更するように正式に約束した事例件数を追跡しているかどうか明示してください。

14.3. 補足情報。


LEA 15. Examples of ESG engagements

15.1. 報告年度に貴社または貴社のサービスプロバイダーが実行したエンゲージメントの事例を挙げてください。

トピックまたはESG問題
          Remuneration policy
        
実行者
目標

The ESG team engaged with a company in November 2016 and the meeting was attended by the Chairman of the Remuneration Committee and the CEO. The purpose of the meeting was to engage major shareholders on the remuneration policy after many shareholders had voted against the policy in the previous year.

対象範囲およびプロセス

Remuneration policy: In response PIC gave clarity on the following issues with regard to the remuneration policy:

It was indicated that some indicators were already disclosed in the report and they just needed to be aligned to reward system.
The PIC suggested that the KPIs should have performance measures and targets and weightings must be allocated to these indicators.
The PIC also provide guidance on the Long Term Incentive Plan and encouraged Resgen to have performance conditions for the LTI and indicators that could be included are Headline Earnings Per Share (HEPS), Total Shareholder Return (TSR) and Return on Capital Invested (ROIC).
The PIC also suggested companies that Resgen could align their remuneration policy to.

結果

It was agreed that the PIC and the company will engage further and a meeting will be scheduled in February to update the PIC on the progress.

トピックまたはESG問題
          Remuneration policy
 	Independence of Auditors
        
実行者
目標

The ESG team engaged with a company and the meeting was attended by the Chairman, Lead Independent Director and the Director of Human Resources. The purpose of the meeting was to discuss the notice of the AGM and to discuss any ESG related matters

対象範囲およびプロセス

Remuneration policy: The PIC raised the issue that although the remuneration policy is well articulated with performance indicators and non-financial factors, weightings have to be allocated to these indicators. In addition there have to be specific long-term targets for the LTI performance conditions.
The PIC also raised the issue of the independence of the auditors who has been the auditors of the company for more than 10 years. The company noted the matter and stated that they are still having a discussion to put in place plans to rotate the firm.

結果

PIC voted against the resolution on re-election of independent auditors.

トピックまたはESG問題
          Remuneration Policy
        
実行者
目標

The meeting was attended by the Chairman of the Remuneration Committee and the Company Secretary to present changes in the remuneration policy after the PIC voted against the remuneration policy.

対象範囲およびプロセス

The PIC voted against the remuneration policy as it was inconsistent with best practice. While the policy had some disclosure of key performance indicators, there were no weightings disclosed. 

結果

PIC has noted that the company has since improved its disclosure on the remuneration policy and has incorporated issues that were raised in the previous meetings. The remuneration policy is linked to the strategy of the business and has performance indicators, targets and weightings in place. Therefore, in the latest AGM the PIC voted in favour of all the resolutions.

15.2. 補足情報。


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