MN only takes part in collaborative engagement opportunities if companies and/or E,S,G themes were first prioritized according to the rules of our MN engagement policies. We work with others not only to conduct company engagement, but also to speak to industry organisations, (bilateral) government organisations and NGOs. If there is no match with the companies and/or themes on our MN engagement list, automatically there is no reason for us to participate.
When there is a match, collaborative engagement offers several efficiency benefits: sharing of workload and knowledge development. An important requirement to collaborative engagement is that we need to be convinced that the engagement can have substantial impact. More assets under management often means more impact. A group of investors supporting the same standard/benchmarks more easily convinces parties of the urgency to implement change.
We take part in a considerable number of collaborative engagement working groups but the level of involvement can be different for each working group. For some groups we are in the lead for a few companies and contribute to the work of others on other companies. For other workers groups we are part of developing a new E,S,G, framework to evaluate complete industries. For some theme’s the collaborative engagement is formalized under the umbrella of the PRI and IIGCC, for other work streams it is just an informal group of investors regularly working together on the same themes.
See examples of collaborative initiatives that we participate in see the answers to question SG: 09.1