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PRI reporting framework 2017

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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 11. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 12. Examples of ESG issues in selection, appointment and monitoring processes

12.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Monitoring: ESG integration
        
Conducted by
Asset class
Scope and process

During an on-site visit to one of our US equity managers, we discussed their recently implemented ESG rating service by an outside service provider. The manager was keen to hear our opinion on their approach, which we encouraged, especially given that US managers ofter lag behind their European peers when it comes to ESG integration.

Outcomes

We will continue to discuss their ESG implementation in future meetings / calls. In our annual ESG survey, the manager highlighted three specific engagement cases and in at least one of them, ESG research by the outside service provider was used as the starting point.

Topic or issue
          Monitoring: quantitative ESG intergration
        
Conducted by
Asset class
Scope and process

One of our EMD managers reported in our annual ESG survey the findings of their proprietary ESG integration model. Their Valuation and Rating Model is an imporant overlay to their investment process and captures (statistically significant) ESG variables' effect on yield spreads and returns. All of this has been developed in-house by the manager's Research Director.

Outcomes

Two cases were discussed in follow-up interactions with the manager.

Topic or issue
          Monitoring: ESG integration
        
Conducted by
Asset class
Scope and process

We are encouraging our US managers to include ESG in their annual reporting and suggesting that we discuss ESG aspects during one of the annual LPAC meetings. Our European managers are further in their ESG reporting and we share best practices with our US managers that are lagging behind.

Outcomes

Our managers are keen to respond to our requests. The ESG matters have first been taken on the agenda for LPAC meetings, including them in the reporting is slower, but gradually more of our managers are taking the step.

12.2. Additional information.


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