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PM Capital

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » Engagement » Overview

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。

01.4. 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。

We believe that ESG is simply part of good business practice and we look very closely at the regard a company's management team has for it. We incorporate ESG principles early on, with manufacturers of tobacco and weapons being screened from our investable universe.


The main areas that we cover within our research process include:

Environment - sustainability management practices and carbon emission policies
Social - this depends on the company but will include occupational health and safety standards, and labour practices
Governance - board structure, operational risk management, and directors and executive remuneration.

In the same way that there will be negative economic consequences for those businesses that cut corners around ESG issues, we also believe that there are positive economic benefits for those businesses that are proactive and progressive when it comes to ESG.

This is why we incorporate ESG issues into the discount rate that we use to value businesses. These must be considered when looking at a company's risk management framework, given the impact they may have to the value of the company over time.


Not having a strong focus on ESG is, in our view, simply bad business, which leads to poor outcomes for investors.

01.5. 補足情報 [任意]

As investors in businesses, it is a natural part of our research process to consider environmental, social and governance (ESG) factors.

We incorporate ESG principles early on, with manufacturers of tobacco and weapons being screened from our investable universe. We also believe that ESG is simply part of good business practice and, due to our active and concentrated investment approach, we look very closely at the regard a company's management team has for it.

Where we see management not addressing ESG issues appropriately, we will apply a discount to the value of a company. Not having a strong focus on ESG is, in our view, simply bad business, which leads to poor outcomes for investors. PM CAPITAL is proud to be a member of ESG Research Australia, which aims to encourage better investment decision-making through active consideration of ESG issues.


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
          To support investment decision-making
        

協働的なエンゲージメント

          To support investment decision-making
        

サービスプロバイダーのエンゲージメント

          To support investment decision-making
        

02.2. 補足情報。[任意]


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