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Nathan Cummings Foundation

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

We engage through proxy voting and the submission of shareholder proposals and through letters outlining concerns about ESG issues. Engagement is handled primarily in-house and is largely centered on the submission of shareholder proposals on topics with strong ties to our philanthropic mission and potential implications for long-term shareholder value. 

01.5. Additional information [optional]


LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements

          To mitigate investment risks associated with corporate practices.
        

Collaborative engagements

          To mitigate investment risks associated with corporate practice.
        

Service provider engagements

02.2. Additional information. [Optional]


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.

other description

          Alignment with our program interests and our focus on climate change and inequality.
        

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.

04.4. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

other description

          We track changes in behavior resulting from our engagement efforts. Where shareholder proposals proceed to a vote, we also track voting results.
        

04.5. Additional information. [Optional]

We have four broad measures of success that we apply to our engagements. Shareholder proposals can be considered successful when they acheive strong votes. Engagements can also be successful if they draw attention to problematic corporate practices, say through generating press coverage of shareholder concerns. They can be successful when they create space for the Foundation's partners, grantees and allies to raise concerns directly with a company. In turn, each of these measures of success feed into the ultimate objective of our engagement work, which is to increase transparency and change problematic corporate behavior.  


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

05.3. Additional information [Optional]

Engagements are prioritized based on their potential impacts on long-term shareholder value and their alignment with our program goals. 


LEA 06. Objectives for engagement activities (Not Completed)


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. Indicate if you play a role in the engagement process that your service provider conducts on your behalf.

07.3. Additional information. [Optional]

The only engagement undertaken on our behalf by a service provider is the voting of proxies associated with our separately managed account tracking the S&P 500 ex tobacco. 


LEA 08. Monitor / discuss service provider information

08.1. Indicate whether you monitor and/or discuss the following information provided to you by your service provider

Please select all that apply

          Engagement done on our behalf by a service provider is limited to proxy voting, which we review on an annual basis.
        

08.2. Additional information. [Optional]


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

Service provider engagements

10.2. Additional information. [OPTIONAL]

With respect to tracking service provider engagements, since these are limited to proxy voting, we track the number of "engagements" in full by reviewing the report given to us at the end of the year.


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)


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