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Teachers' Retirement System of the City of New York

PRI reporting framework 2017

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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

05.2. Describe the criteria used to identify and prioritise collaborative engagements

05.3. Additional information [Optional]

TRS, based on trustee interest and/or recommendations from the BAM's Corporate Governance and Responsibile Investment staff, approves participation in collaborative initiatives. In addition, the Comptroller's Office may participate in collaborative engagements on TRS behalf that are consistent with TRS' policies and priorities.

TRS works with other stakeholders to maximize impact in key ESG issues. Through ongoing dialogue with other large institutional investors, key issues are identified and a common strategy is developed to address the issues involved.

TRS is an active participant in several ambitious collaborative engagements, including leading the Boardroom Accountability Project launched by TRS and the other NYC Pension Funds, and participating in the Carbon Asset Risk initiative coordinated by CERES and the Human Capital Working Group led by the UAW Retiree Medical Benefits Trust. TRS also leads, and participates in, various other formal and informal collaborations, including encouraging less-resourced investors to co-file the sharewner proposals submitted by TRS.

LEA 06. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Indicate if you define specific objectives for your engagement activities carried out collaboratively.

06.2. Indicate if you monitor the actions companies take following your collaborative engagements.

06.3. Indicate whether your organisation defines milestones and goals related to engagement activities carried out via collaborations.

06.4. Indicate if you do any of the following to monitor and evaluate the progress of your collaborative engagement activities.

06.5. Additional information. [Optional]

The Corporate Governance and Responsible Investment staff in BAM actively participate in collaborative intiatives on behalf of TRS and are responsible for monitoring progress and reporting back to the TRS' board. Summary results of the more signficant initiatives are also included in the Postseason Report that is disclosed publicly.

As noted previously, most collaborative engagements seek a specific set of reforms or disclosures, so progress measurement is relatively straightforward. Some engagements, however, are less focused on a discrete outcome, such as recent engagements around human capital and in some cases climate change.