This report shows public data only. Is this your organisation? If so, login here to view your full report.

Neuberger Berman Group LLC

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. Indicate whether your organisation has a formal engagement policy.

01.2. Indicate what your engagement policy covers:

01.3. Attach or provide a URL to your engagement policy. [Optional]

01.4. Provide a brief overview of your organization’s approach to engagement

Neuberger Berman's Proxy Committee is responsible for developing, authorizing, implementing and updating the Proxy Voting Policy, overseeing the proxy voting process, and engaging and overseeing any independent third-party vendors as voting delegate to review, monitor and/or vote proxies. In order to apply the Proxy Voting Policy in a timely and consistent manner, Neuberger Berman ("NB") utilizes Glass Lewis ("GL") to vote proxies in accordance with NB's voting guidelines. For socially responsive clients, NB has adopted socially responsive voting guidelines. For non-socially responsive clients, NB's guidelines adopt the voting recommendations of GL to vote proxies in accordance with NB's voting guidelines. NB retains final authority and fiduciary responsibility for proxy voting. NB believes this process is reasonably designed to address material conflicts of interest that may arise between NB and a client as to how proxies are voted. In the event that an investment professional at NB believes that it is in the best interest of a client(s) to vote proxies in a manner inconsistent with NB's voting guidelines or in a manner inconsistent with GL recommendations, the Proxy Committee will review information submitted by the investment professional to determine that there is no material conflict of interest.

01.5. Additional information [optional]

Engagement with management teams is an integral part of our investment process. We've hosted over 1,500 meetings with management teams in our New York offices in 2016. These meetings include one-on-one discussions with senior management on a host of issues including any relevant ESG topics..  Our research analysts monitor progress/resolution on ESG issues raised in discussions with management teams.  This dovetails with our broader support of organizations encouraging greater reporting transparency such as the CDP and the Center for Political Accountability.

This dovetails with our broader support of organizations encouraging greater reporting transparency such as CDP, and the Center for Political Accountability.


LEA 02. Reasoning for interaction on ESG issues (Not Completed)


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. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

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

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take following your engagements.

04.3. Indicate whether your organisation defines milestones and goals for engagement activities carried out by internal staff.

04.5. Additional information. [Optional]


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. Indicate whether your organisation has a formal process for identifying and prioritising collaborative engagements

05.2. Describe the criteria used to identify and prioritise collaborative engagements

05.3. Additional information [Optional]

Individual members of the ESG Advisory Committee had the opportunity to play a leadership role in engagements based on: expertise, value add to NB (potential to learn from other members of the engagement), geographic focus of the engagement and materiality to NB Investment Philosophy.


LEA 06. Objectives for engagement activities

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

06.1. Indicate if you define specific objectives for your engagement activities carried out collaboratively.

06.2. Indicate if you monitor the actions companies take following your collaborative engagements.

06.3. Indicate whether your organisation defines milestones and goals related to engagement activities carried out via collaborations.

06.4. Indicate if you do any of the following to monitor and evaluate the progress of your collaborative engagement activities.

06.5. Additional information. [Optional]

Note that the monitoring process outlined in LEA 06.4 is done in conjunction with the collaborative engagement team.  In addition, those involved in collaborative engagements report progress periodically to our internal ESG Advisory Committee.


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers (Private)


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of engagements your organisation participates in.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

10.2. Additional information. [OPTIONAL]

The SRI Team tracks all company engagements related to ESG issues, however, for other equity strategies,  less formal tracking is in place.


Outputs and outcomes

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


LEA 12. Engagement methods (Private)


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


LEA 14. Companies changing practices / behaviour following engagement (Private)


LEA 15. Examples of ESG engagements (Private)


Top