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ERAFP - Etablissement de Retraite Additionnelle de la Fonction Publique Pension Scheme

PRI reporting framework 2017

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1.

Roles present in your organisation

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

Board members:

The Board of Directors sets the general direction for the socially responsible investment (SRI) policy. It adopts the SRI Charter and any future updates to it. In order to validate the main features of this investment policy, it relies on the work done by the specialised committees.

A Board committee dedicated to SRI has been created in order to monitor decisions relating to ERAFP' SRI policy. This committee ensures compliance with the principles of the socially responsible investment charter and drafts any future updates that may be necessary.

 

Chief executive officer and investment officer (the management):

The management shall be the operational body responsible for the implementation of the investment policy, under the authority and control of the Board of Directors. It shall therefore prepare Board decisions regarding the main features the investment policy. It shall report, inform and, where necessary, alert the Board, via its committees, about the implementation of the investment policy, including its socially responsible dimension. By organising quarterly meetings with the SRI Board Committee, the management assists Directors in their work to adjust, enhance and monitor ERAFP's SRI policy.

 

External managers or service providers, Portfolio managers:

External managers are investment companies which are mandated by ERAFP to make investments in accordance with its SRI Charter. They have the duty to inform and alert ERAFP about the implementation of the Charter. On a bi-annual basis, the compliance with ERAFP SRI Charter of the investments made on its behalf is discussed during investment committee meetings with investment managers.  In order to prepare these meetings, ERAFP recourses to the services of an ESG research provider who conducts on a bi-annual basis an exhaustive review of the portfolio aiming at monitoring the compliance of ERAFP's investment with its SRI requirements.

 

Dedicated responsible investment staff :

ERAFP's dedicated responsible investment team monitors  the implementation of ERAFP's SRI policy by asset managers, develops  asset class-specific SRI guidelines, prepares SRI reporting, ensures the coordination of votes of delegated asset managers and participates/conducts collaborative engagement initiatives.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

2 Number

07.4. Additional information. [Optional]


SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

08.2. Describe any activities undertaken during the reporting year to develop and maintain Board members’ skills and knowledge in relation to responsible investment.

In January 2016, we have proposed 2 training sessions to our board trustees (one on SRI and one on climate change). A training plan is defined every year for the trustees: it always includes SRI related training sessions (executive remuneration, climate change, etc...)

Chief Executive Officer (CEO), Chief Investment Officer (CIO),  Investment Committee

Portfolio managers

Dedicated responsible investment staff

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

 For each new ERAFP's Portfolio managers, the SRI Team organizes a RI training session. 

08.4. Describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

          ERAFP's board of directors resolved on November 2005 to adopt an investment policy that takes into account the pursuit of the public interest. That led to the adoption of ERAFP SRI Charter in 2006 which specifies the orientation, tools and resources needed to apply the social responsible investment policy. Hence, the board members oversee the ERAFP SRI policy and its implementation since the beginning of ERAFP.
ERAFP has been integrating ESG criteria in asset managers' solution process since the first Request for Proposal was launched in 2007. The process can thus be considered as robust.
Most ERAFP's investment officers have been working at ERAFP for several years and are thus used to overseeing mandates with stringent SRI requirements.
ERAFP's head of SRI is part of the investment committee.
Finally, ERAFP's CEO is duty committed to SRI and has been a board member of IIGCC since 2013 and vice Chair since 2016.
        

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