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Church of England Pensions Board

PRI reporting framework 2017

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Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]

The first priority of engagement stems from our own policies. These policies are developed by an advisory group - the Church of England Ethical Investment Advisory Group (EIAG). The EIAG's membership ranges from a senior Bishop, to leading theologians, to the Chief Executives of the Church of England's National Investing Bodies (including the Pensions Board and Church Commissioners), to other expertise. 

A number of the policies that are developed require engagement as a key aspect of implementation. For example, the responsible alcohol policy, climate change policy, corporate tax policy etc.  Trustee bodies will consider the prioritisation of engagement and the focus given to each area.  We also use our voting template to address a number of the engagement objectives.

Where we can effectively collaborate, either as a Church Investor, or with other non-church funds we seek to do so in line with our priorities.  We continue to play a leading role in the Church Investors Group and actively contribute to the prioritisation of issues that are engaged upon each year. This includes issues ranging from modern day slavery, water resilience, tax transparency and climate change.

Finally, we undertake intensive engagement as issues become apparent during the year such as concerns relating to the way a particular company may be acting or the response to a particular incident.


LEA 04. Objectives for engagement activities

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

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take following your engagements.

04.3. Indicate whether your organisation defines milestones and goals for engagement activities carried out by internal staff.

04.4. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

04.5. Additional information. [Optional]

In each engagement we look to record and set clear objectives - although some engagements may be exploratory to begin with before we establish clear objectives.  We have developed our own internal data-base and monitoring system to track progress.  In each policy area that we are engaging on we have a specific over-arching objective that focusses our engagement 'asks' of the company.  For example, in developing our engagement strategy for climate change we have engaged academic expertise from the London School of Economics Grantham Research Institute to develop a climate change transition pathway for major companies in energy intensive sectors.  Together we have been developing along with other Asset Owners and with the support of FTSE Russell a clear framework to transparently assess company progress on i) management quality and ii) future projected carbon performance.  The Transition Pathway Initiative (TPI) has been a major undertaking and seeks to provide a transparent framework for undertaking engagement and guiding our future voting decisions on climate change. 


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