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First State Superannuation Scheme

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. 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]

URL

Attach document


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

We engage with companies that have been identified either through screening or thematic research, as poorly managing their ESG risks. Occasionally we engage with companies who create opportunity out of an ESG issue to learn how others might do it better.

The screening process occurs monthly to identify controversies and half yearly to identify companies that score poorly on any one of thirty-seven key E, S or G key issues. Additional data feeds into this process including proxy voting outcomes and research scores from Regnan, our engagement partner.

Our thematic research, the themes of which are determined by a variety of sources, including increased member queries on a topic, increased media and community awareness of an issue, or topics that we vote on throughout the year, such as executive remuneration, allows us to dedicate substantial time to researching issues to determine how widely spread an issue is and importantly, how it will affect our holdings.  

Severity, materiality, and value at risk (including reputational risk) of these ESG issues, as well as internal resourcing and likelihood of affecting change, dictate whether we pursue the engagement.

01.5. Additional information [optional]

We also use Regnan for engagement and their approach is:

Regnan owner/clients collectively fostered the establishment of Regnan as a specialist engagement service to:
> benefit from specilised skills both in ESG aspects and in the practice of engagement for change.
> provide access to and influence with relevant decision makers in corporations and elsewhere.
> maximise the impact of the resources each client contributes.
> be efficient in the achievement of shared objectives - a benefit for investee companies also given they face increasing requests from shareholders for dialogue. Via Regnan companies can reach a large proportion of shareholders who prioritise ESG issues through a single interface.


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

Collaborative engagements

Service provider engagements

02.2. Additional information. [Optional]


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