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BlackRock

PRI reporting framework 2017

You are in Strategy and Governance » Objectives and strategies

Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Feedback from investment and client-facing colleagues that the training is relevant and helpful to them in their daily roles.
        

Progress achieved

In 2016 BlackRock provided training on ESG incorporation through product team and investment team consultations and conversations, external research providers, and independent organizations with unique insights into specific sustainability topics. These sessions were led by subject matter experts from various teams, including investment stewardship, portfolio analytics, and product development. Feedback has been positive, and there have been requests for additional training. We continue to develop our approach to training on ESG incorporation and introduce new sources to keep current with sustainability trends and market developments. Some employees will take the Sustainability Accounting Standards Board’s Fundamentals of Sustainability Accounting credential in 2017, and we note the CFA Institute's body of knowledge--which many of our employees study to pass the CFA exams--has expanded ESG coverage.

Key performance indicator

          Feedback from senior leadership, investment and client-facing colleagues that the information is relevant and helpful to them in their daily roles.
        

Progress achieved

A weekly ESG trends email informs a broad range of teams across the firm of developments in the field and from our firm. We also have several internal working groups focused on ESG integration which meet regularly and report on activities across the firm, such as new products, reporting and analysis capabilities, and topics of interest to clients around the globe. Feedback on these activities has been positive.

Key performance indicator

          Successful engagement outcomes at more companies.
        

Progress achieved

We increased the number of ESG practitioners on our Investment Stewardship team by a third during 2016. The team now comprises 31 specialists based in London, New York, San Francisco, Hong Kong and Tokyo. The main driver of the increase was the need to engage more companies than the 1500 we currently meet annually. We expect to be able to engage with more companies, and subsequently report on successful outcomes.

Key performance indicator

          Feedback from senior leadership, investment colleagues, and clients that the information is relevant and helpful to them in their investment decision-making.
        

Progress achieved

In 2016, BlackRock introduced an ESG Risk Window which has been adopted by fundamental active equity research teams in the Asia-Pacific region, and will be expanded to teams in our European and Americas regions. BlackRock's Real Assets team developed a holistic approach to incorporating ESG factors into the global real estate and infrastructure team investment processes, which will be rolled out in 2017. The firm continues to enhance the amount of ESG information and reporting capabilities in Aladdin, BlackRock’s investment and risk management platform, which supports investment decision-making and client discussions. Feedback so far has been positive.

          ESG publications
        

Key performance indicator

          Feedback from external partners and internal colleagues that the materials are informative and useful to them in their daily roles.
        

Progress achieved

BlackRock published a ViewPoint on ESG integration from a practitioner’s point of view for use in our public policy discussions and in engagement with clients and other interested parties. The BlackRock Investment Institute published a paper on adapting portfolios to climate risk.  Both publications got considerable pubic attention in 2016 and are available on the BlackRock website.

Financial performance of investments

ESG characteristics of investments

Other activities

Key performance indicator

          Output from such initiatives progressing the ESG debate and policy framework.
        

Progress achieved

BlackRock actively participated in the Council of the International Integrated Reporting Council and the work of the Sustainability Accounting Standards Board, including as a member of the Investor Advisory Group. BlackRock is a member of the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures. BlackRock collaborated with several other investors in the US to develop a stewardship and corporate governance principles framework for investors and issuers.

Key performance indicator

          Output from such initiatives progressing the ESG debate and policy framework.
        

Progress achieved

In our capacity as advisors to a diverse group of clients across the world, BlackRock is often engaged by clients who wish to learn more about the sustainable investment landscape and responsible investment trends. We are often in the position to recommend participation in certain initiatives, and to share our experiences as participants in the groups where we play an active role.

Key performance indicator

          Feedback from clients that they understand the purpose and outcomes of engagements reported and impacts of ESG incorporation on their portfolio.
        

Progress achieved

BlackRock continues to write case studies describing our engagement activities, and makes these available on our public website. The case studies include engagement activities by region.

06.2. Additional information.


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