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Impax Asset Management

PRI reporting framework 2017

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Objectives and strategies

SG 05. RI goals and objectives

05.1. 組織が責任投資活動に関して目的を設定して見直しを行っているかどうか、および、行っている場合にはその頻度を記載してください。

05.2. 補足情報。 [任意]


SG 06. Main goals/objectives this year

06.1. 報告年度に組織として設定している責任投資の主な目的を挙げてください。

責任投資プロセス

主要パフォーマンス指標(KPI)

          On-going ESG training in the investment team, company and sector-level. KPI is the time spent on ESG-training.
        

進捗状況

Fully trained ESG-analysts in the investment team now 6, up from 4 in 2015.

主要パフォーマンス指標(KPI)

          On-going training and communication in the investment team. KPI is the time spent on engagement training.
        

進捗状況

ESG engagement is done across the investment team during company meetings.

主要パフォーマンス指標(KPI)

          "ESG and Engagement" a standing agenda item at weekly Investment Committee meetings.
"Engagement Database" and specific engagements circulated and available on Impax's intranet.
        

進捗状況

Improved awareness about on-going and planned engagements across the investment team and the firm.

主要パフォーマンス指標(KPI)

          Increasingly prioritising most impactful engagement and increasing collaborative engagement to optimise use of time and resources.
        

進捗状況

Increased levels of engagement and increased proportion of strategic and collborative engagement.

投資に係る財務業績

主要パフォーマンス指標(KPI)

          ESG-score (company quality) and share price performance.
        

進捗状況

We continue to observe that the companies we rate most highly for ESG, have continued to outperform those that have weaker ESG-scores. We believe this is related to higher corporate quality.

投資のESG特性

主要パフォーマンス指標(KPI)

          ESG-score and position size cap.
        

進捗状況

We continue to cap the position sizes in our portfolios, of those companies that score "fair" on our proprietory ESG-analysis, for risk management purposes.

主要パフォーマンス指標(KPI)

          Engagement focus on smaller companies that have lacking sustainability processes and performance.
        

進捗状況

We have been able to get 2-3 companies per year to launch materially-based sustainability processes, based on our cost-effective sustainbaility framework and hence these companies' ESG-ratings have also improved.

Other description (1)

          Measuring positive environmental impact in our Specialist and Leaders strategies, reporting enhancements.
        

主要パフォーマンス指標(KPI)

          KPIs: 1. Net carbon emissions, 2. renewable energy generated, 3. water saved and treated and 4. materials recycled and recovered.
        

進捗状況

Impax's Specialist and Leaders strategies have developed an impact measurement framework for measuring positive environmental impact through the investee companies' end products and services. The KPIs are: 1. Net carbon emissions, 2. renewable energy generated, 3. water saved and treated and 4. materials recycled and recovered.

The Net Carbon Emissions calculation entails a full carbon footprinting, but then calculating the carbon emissions avoided through the production and sales of environmental products and services by our investee companies. In 2016, the Specialist and Leaders strategies had both more carbon avoided than emitted on aggregate by the investee companies. This methodology, measurement and data has been assured by EY.

In 2016, we additionally calculated how this net carbon avoidance compared to investments into portfolios representing the global economy today and the 2 degree global economy that the Paris Climate Agreement requires, for comparison.

その他の活動

主要パフォーマンス指標(KPI)

          Participated in 30 collaborative RI engagements in 2016, participated in the SEC S-K Concept consultation, participated in the TCFD climate reporting consultation.
        

進捗状況

主要パフォーマンス指標(KPI)

          Regular educational sessions on ESG and sustainable investing for investors, students and other groups.
        

進捗状況

  • Teach-in for a Japanese sell-side firm, considering intruding ESG-aspects in their analysis.
  • Teach-in for a Chinese investor delegation regarding ESG and recommended joining UN PRI, EMIA, (Emerging Markets Investor Association) and the ACGA (Asia Corporate Governance Association).

主要パフォーマンス指標(KPI)

          Impax White Papers on sustainable investing.
        

進捗状況

主要パフォーマンス指標(KPI)

          Regular seminars and presentations on ESG and sustainable topics
        

進捗状況

  • London and US-based seminars to investors demonstrating how ESG and sustainability analysis is used in practice in the Impax investment process, with a case study of the Aqua-culture sector. 

06.2. 補足情報。 [任意]


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