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VicSuper (Delisted)

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

05.3. Additional information [Optional]

While we don't have a formalised process for identifying and prioritising collaborative engagements, Vicsuper has a number of strategic priorities that helps inform our collaboration activities.

We collaborate with our industry and thought leaders through a number of investor organisations, working groups and roundtable initiatives. These include the Principles for Responsible Investment (PRI), the Investor Group on Climate Change and the Natural Capital Declaration to name a few. A full list of the signatories and organisations we collaborate with is available on our website. During the year we also actively contributed to industry wide projects that help to drive positive change, including:

  • Investor Group on Climate Change‚Äôs climate adaptation working group: As an active member of this group we aim to help the superannuation industry better understand adaptation policy and risk exposures in the Australian context. It also aims to develop best practice guidance on how to measure and monitor adaptation risk across portfolios and identify opportunities for investment in adaptation opportunities.
  • Natural Capital Declaration disclosure and reporting working group: As chair of this working group with the Natural Capital Finance Alliance we aim to help the global finance industry collect data and report on the natural capital impacts that exist within their organisations and supply chains.
  • Pension Fund Integrated Reporting Network: Participating in this working group, which is led by the International Integrated Reporting Committee and Australian Institute of Superannuation Trustees, allows us to share our leadership approach to annual reporting with other funds within our industry. The network is also working to raise awareness of the value of integrated reporting for investor decision making.

LEA 06. Objectives for engagement activities (Not Completed)

Process for engagements conducted with/on your behalf by service providers

LEA 07. Role in engagement process

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

07.1. Indicate if you play a role in the engagement process that your service provider conducts on your behalf.

07.2. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

07.3. Additional information. [Optional]

Each year our service providers Regnan and Hermes EOS provide us with an engagement plan proposal. Throughout the year VicSuper is provided with engagement activity updates and a formal report of outcomes achieved at the end of each year. The outcomes of this engagement, supported by further research, are used to shape the following years' engagement activities.

ACSI members, together with ACSI management, identify issues for engagement on an annual basis. Monitoring and review are done semi-annually via progress reports and presentations. While ACSI members do not "specify" the particular objectives for the engagement or companies to be engaged with, they do review and endorse ACSI's choices. Members are also able to attend a number of engagements each year alongside ACSI staff. In many cases, several members attend a single meeting.

Regnan reports on engagement activity on a quarterly and yearly basis through a written engagement report. These reports outline the upcoming engagement activity, progress against objectives and outcomes over the longer timeframe. VicSuper takes part in an annual engagement planning process and attends reporting meetings as required.

We actively monitor and review the activities of our service provider Hermes EOS through quarterly calls, regular reports and use of their online information portal.

LEA 08. Monitor / discuss service provider information

08.1. Indicate whether you monitor and/or discuss the following information provided to you by your service provider

Please select all that apply

08.2. Additional information. [Optional]

See previous disclosure in LEA 07.3

Each of our service providers annually creates a list of engagement priority companies with specifically defined concerns and objectives for each company. Objectives are meaningful changes in company behavior. They also sets objectives for the proportion of all priority companies where objectives are met.

Monitoring and evaluation is done through semiannual progress reports, itemized company by company and in aggregate, which are delivered to member funds.

General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers

09.1. Indicate if insights gained from your engagements are shared with your internal or external investment managers.

Type of engagement

Insights shared

Collaborative engagements

Service provider engagements

09.2. Additional information. [Optional]

VicSuper reports on overall engagement activity and performance via our Annual Report and through emails responding directly to member queries or concerns.

LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of engagements your organisation participates in.

Type of engagement
Tracking engagements

Collaborative engagements

Service provider engagements

10.2. Additional information. [OPTIONAL]

Regnan, ACSI and Hermes EOS provide quarterly reports giving full disclosure on the number of engagements and themes of engagement conducted on our behalf, together with annual reports on progress. Each of our services providers undertake detailed tracking is undertaken on the number engagements, method of engagement, level within the organisation at which the engagement occurred, topics discussed, detailed summaries of discussions together with observations of progress, including publicly available materials/statements.High level engagement data is collated and disclosed in our Annual Report.