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RBC Global Asset Management

PRI reporting framework 2017

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Outputs and outcomes

FI 21. Financial/ESG performance

21.1. Indicate whether your organisation measures how your incorporation of ESG analysis in fixed income has affected investment outcomes and/or ESG performance.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
We measure whether incorporating ESG impacts funds' reputation
We measure whether incorporating ESG impacts financial returns
We measure whether incorporating ESG impacts risk
We measure whether incorporating ESG impacts funds' ESG performance
None of the above

21.2. Describe how your organisation measures how your incorporation of ESG analysis in fixed income has affected investment outcomes and/or ESG performance. [OPTIONAL]

21.3. Additional information.[OPTIONAL]


FI 22. Examples - ESG incorporation or engagement

22.1. Provide examples of how your incorporation of ESG analysis and/or your engagement of issuers has affected your fixed income investment outcomes during the reporting year.

ESG issue and explanation

The issuer is a special purpose entity that owns, builds, and operates solar projects. The 100 MW solar generation facility began commercial production in 2015 and the entity sought debt financing for the first time - ultimately raising over $630-million through the offering. Our investment team conducted further analysis to determine whether the bond would qualify for our SRI strategies.

Impact on investment decision or performance

After further analysis and consultation with an ESG research provider our investment team participated in the offering.

ESG issue and explanation

First Nations Finance Authority (FNFA) is a non-profit organization created in 2006 to develop borrowing capacity for First Nations governments. FNFA borrows money in the public markets and lends those funds to qualified First Nations groups for infrastructure development, community-owned housing projects, social development, land purchases, and economic development. By statute, land or buildings on First Nations territories cannot be pledged as collateral, which has historically impeded lending sources. To support debt service obligations, FNFA borrowing members pledge revenue streams from businesses and other sources as collateral.

Impact on investment decision or performance

Our investment team determined that FNFA’s mandate and cash flow support in the security structure made the bond a suitable investment for our SRI fixed income strategies.

22.2. Additional information.


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